Wheat Production in Ukraine Will Decrease by 21% in 2023/2024 MY

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The U.S. Department of Agriculture (USDA) forecasts a 21% decrease in wheat production in Ukraine for the 2023/2024 marketing year (MY).

Overall, Ukraine is expected to be able to export 10 million tons of wheat, down from 15 million tons in the current 2022/23 MY, corn instead will be 16.5 million tons, down from 25.5 million tons.

The ministry explains that the reason for the decline will be a smaller crop and reduced export inventories. The USDA improved its wheat export estimate for this year by 0.5 million tons to 15 million tons, attributing it to better-than-expected performance of the «grain corridor» and «solidarity lines.» However, the ministry expects production to drop by 4.4 million tons to 16.5 million tons from last year. Harvesting of other grains will drop to 28.67 million tons from 34.06 million tons last year and 53.51 in 2021/2022 MY. Thus, corn will be harvested 22 million tons compared to 27 million tons last year, barley — 5.9 million tons against 6.18 million tons, oats — 350 thousand tons against 390 thousand tons and 478 thousand tons.


PigUA.info by agravery.com