USDA raises Ukraine wheat export forecast to 14 mln tonnes, harvest to 23.4 mln tonnes

MOSCOW. Jan 15 (Interfax) - The U.S. Department of Agriculture has raised its Ukrainian wheat export forecast for the July 2023-June 2024 marketing year by 0.9 million tonnes or 4% to 23.4 million tonnes and its export forecast 1.5 million tonnes or 12% to 14 million tonnes, Ukrainian media reported, quoting the USDA's January report.

The forecast for wheat ending stocks is 1.8 million tonnes higher at 4.38 million tonnes.

The corn harvest, export an ending stocks forecasts are unchanged at 30.5 million tonnes, 21 million tonnes and 6.82 million tonnes, respectively.

The global wheat harvest this agricultural year rises 1.9 million tonnes to 784.91 million tonnes, due to the higher forecasts for Ukraine and Russia but a lower forecast for China. The forecast for global wheat exports was increased by 2.35 million tonne to 209.54 million tonnes, and the forecast for wheat ending stocks was raised 1.83 million tonnes to 260.03 million tonnes.

The global corn harvest forecast was increased by 0.0137 million tonnes to 1.235 million tonnes, and the exports forecast was lowered by 0.57 million tonnes to 200.89 million tonnes. Ending stocks were raised 10 million tonnes to 325 million tonnes.