US Dept of Agriculture increases harvest and export forecasts for Ukrainian wheat

MOSCOW. Sept 13 (Interfax) - The US Department of Agriculture (USDA) has improved the 2023/2024 agricultural year (July-June) forecast for the wheat harvest in Ukraine from 21 million tonnes to 22.5 million tonnes, with corn also increasing from 27.5 million tonnes to 28 million tonnes, as the actual planted areas under these crops are larger than previously expected, Ukrainian media said, citing the USDA.

The agency also increased its estimate of Ukrainian wheat exports from 11 million tonnes to 11.5 million tonnes, while maintaining its forecast for corn exports at 19.5 million tonnes.

USDA also improved its forecast for domestic wheat consumption in Ukraine from 8.1 million tonnes to 8.8 million tons. The forecast for corn consumption in the country stayed at 5.5 million tonnes, while the forecast for transitional stocks of corn was increased to 4.43 million tonnes from 3.89 million tonnes.