Bulgarian wheat exports down, corn exports up

Bulgaria exported 3.86 MMT of wheat in the 11 months of MY 2018/19 (down 17% year-on-year), reports UkrAgroConsult. EU countries continue to account for 86% of total wheat shipments.

Wheat harvest in Bulgaria is drawing to an end (96% complete). The average yield in the country is 8.4% higher than in 2018.

Based on real-time harvest data, UkrAgroConsult’s original forecast for Bulgaria’s wheat crop remains unchanged. We estimate exportable wheat supplies in MY 2019/20 at 5% above last season.

UkrAgroConsult’s May forecast for corn still remains in force. Despite an acreage expansion (+7% from 2018), Bulgaria may harvest less corn than last year. It is still under question whether farmers will see another good yield.

On average, Bulgaria received below-normal precipitation during an important period for corn yield formation, and it was much lower than last year. At the same time, air temperatures in July – the most important month for corn – were noticeably higher than both normal and last year’s levels.

Bulgaria exported 1.54 MMT of corn in the nine months of MY 2018/19, or already 11% more than in the whole of last season (1.39 MMT). EU countries absorbed 83% of total corn exports.

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Please be reminded that on September 5, UkrAgroConsult will host a major meeting point of the oilseed industry operators – the 7th International Conference “Black Sea Oil Trade-2019” in Hilton, Kyiv, Ukraine.

‘Black Sea Oil Trade’ conference annually brings together key players of the global agribusiness at the start of a new oilseed season. The goal of the conference is to discuss prospects and directions of the Black Sea and global oilseed market development, exchange international contacts, share recommendations for adapting business strategies in the changing market and global trade.

More than 250 delegates from 25+ countries attend the conference annually. Conference participants are represented by producers and crushers of oilseeds, traders, enterprises for deep processing of vegoils, investment companies, banks, legal, shipping, brokerage, insurance, surveyor and other companies.