USDA raises forecast for Ukraine's corn harvest by five mln tonnes for 2022-23 season in August report

MOSCOW. Aug 15 (Interfax) - The U.S. Department of Agriculture in its August report has increased the forecast for the harvest of Ukrainian corn in the July-June 2022-23 agricultural season by five million tonnes compared to July to 30 million tonnes from 25 million tonnes, and raised its outlook for exports by 3.5 million tonnes to 12.5 million tonnes from nine million tonnes for the period.

According to the USDA report posted on its website, the estimate for domestic consumption of corn in Ukraine has increased by one million tonnes from 9.5 million tonnes to 10.5 million tonnes.

The USDA has also improved its forecast for the export of Ukrainian wheat by one million tonnes to 11 million tonnes from 10 million tonnes, while estimates for the harvest and domestic consumption remained at the same levels at 19.5 million tonnes and 10.2 million tonnes, respectively.

The outlook for carry-over inventory of wheat at the end of the current agricultural season has reduced from 5.24 million tonnes to 4.24 million tonnes compared to 5.84 million tonnes at the beginning.

The overall forecast for the harvest of feed grain in Ukraine for the season has risen by 5.7 million tonnes to 37.46 million tonnes from 31.76 million tonnes, and the outlook for exports is up by 3.5 million tonnes to 14.33 million tonnes from 10.83 million tonnes.

As previously reported, Ukraine has exported 2.21 million tonnes of grain and leguminous crops since the beginning of the 2022-23 agricultural season, which is 52.4% lower than the previous agricultural season.