In October, the USDA reduced its grain crop and export forecasts for the Black Sea region

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Ukraine. The corn crop forecast for Ukraine was reduced by 1 MMT to 38 MMT because the average yield while harvesting had turned out to be below market expectations. The estimate of corn exports from Ukraine was cut by 0.5 MMT to 31.5 MMT. The projections for other crops were left unchanged.

Russia. The corn crop was lowered by 0.5 MMT to 15 MMT for the same reason, i.e. disappointing yield figures. Corn exports were decreased to a lesser degree – by 0.3 MMT to 4.5 MMT. The barley estimates were cut as well: production down 0.7 MMT at 17.3 MMT, exports down 0.5 MMT at 4.5 MMT. The wheat balance was left unchanged.

Kazakhstan. In October, the wheat crop estimate for Kazakhstan was reduced by 0.5 MMT.

So, the 2021/22 grain crop in the Black Sea region was decreased by 1.3% from the previous forecast, to 201.9 MMT, with export potential down 1.1% at 113.1 MMT, UkrAgroConsult reports.

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Tags: forecast, Ukraine, Russia, corn, Kazakhstan, grain, USDA Report