USDA raises forecast for Ukrainian wheat exports to 16.5 mln tonnes this season

MOSCOW. April 12 (Interfax) - The U.S. Department of Agriculture (USDA) has raised the estimate for Ukrainian wheat exports by 1.5 million tonnes to 16.5 million tonnes in the current agricultural year from July 2023 to June 2024, Ukrainian media reported, citing the USDA's April report.

The USDA simultaneously reduced the forecast from 3.28 million tonnes to 1.58 million tonnes for carryover balances at the end of the agricultural year, and the forecast for domestic consumption from 7.7 million tonnes to 7.3 million tonnes.

The USDA maintained the estimate for corn exports at 24.5 million tonnes in April after raising it by 1.5 million tonnes in March.

The overall forecast for Ukrainian exports of feed grains has risen by 100,000 tonnes to 26.97 million tonnes owing to the same reduction, to 4.08 million tonnes, in carryover balances at the end of the current agricultural year.