U.S. Department Of Agriculture Revises Outlook For Wheat Harvest In Ukraine Upwards 2.4%
The U.S. Department of Agriculture has revised its outlook for wheat harvest in Ukraine upwards 2.4% or by 0.5 million tons to 21 million tons in the 2022/2023 marketing year (July 2022 - June 2023).
This is stated in the message of the Ukrainian Agrarian Business Club association (UCAB), Ukrainian News Agency reports.
"According to the updated forecasts of the USDA, in 2022/23 MY, Ukraine's wheat production and export indicators will increase by 0.5 million tons to 21 million tons and 13 million tons, respectively. As for corn, production volumes will remain unchanged, and at the same time, exports will increase by 3 million tons to 20.5 million tons," the report said.
It is noted that the global wheat market outlook for 2022/23 predicts an increase in supplies, exports, consumption and stocks.
In particular, the world production of wheat increased by 0.7 million tons to 781.3 million tons due to the increase in production volumes by Ukraine and EU countries (by 0.4 million tons to 134.7 million tons) with a simultaneous decrease in China (by 0.2 million tons to 137.7 million tons).
At the same time, the forecast volume of world trade in wheat for 2022/23 MY will increase by 0.8 million tons to 211.6 million tons, and the projected global ending stocks - by 1.1 million tons to 268.4 million tons.
According to the report, a decrease in world corn production by 6 million tons to 1,155.9 million tons is forecast due to a reduction in the USA (by 6.3 million tons to 358.5 million tons), Argentina (by 3 million tons to 60.8 million tons) and Brazil (by 1.0 million tons to 129.5 million tons), which is partially offset by an increase for China (by 3.2 million tons to 285.5 million tons).
At the same time, it is expected that the world export of corn in 2022/23 will decrease by 3.4 million tons to 178.2 million tons, and the projected global final stocks of corn - by 2 million tons to 322.3 million tons.
As Ukrainian News Agency earlier reported, as of January 12, agricultural enterprises harvested 50.965 million tons of grain and leguminous crops from an area of 10.9 million hectares (94%) with a yield of 47 tons per hectare.