Black Sea wheat balance left unchanged

UkrAgroConsult

Ukraine. The only positive change the September USDA report brought was a 0.5 MMT increase in the estimate of Ukraine’s barley crop, to 10.5 MMT. The barley export projection was raised by 200 KMT, to 6 MMT, because of weakening competition from Canada. The balances of other grains were left unchanged, UkrAgroConsult reports.

Russia. The forecast for Russia’s wheat crop remains at 72.5 MMT. The corn crop and export figures were reduced by 1 MMT, to 15.5 MMT, because of droughty weather. The corn export estimate was cut to 4.8 MMT. The barley crop outlook was also lowered (by 1 MMT, to 18 MMT), while exports were kept at 5 MMT.

Kazakhstan. The crop and export estimates for major grains in Kazakhstan did not change in September.

Thus, the Black Sea grain crop in MY 2021/22 decreased by 0.7% from the August forecast, to 204.6 MMT, while export potential was left unchanged.

More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for Online Analytics “Black Sea Grain” in the new innovative tool for agri market participants – AgriSupp by UkrAgroConsult. Subscribe to a 7-day free trial!

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Tags: wheat balance, wheat, Black Sea