US forecasts increase of Ukrainian grain export in 2024
In the 2023/24 marketing year both export and production of grain will increase in Ukraine.
Аccording to the forecast by USDA, wheat export from Ukraine is going to increase by 1.5 million tonnes to 14 million tonnes in 2023/24 marketing year. The production of wheat – by 0.9 million tonnes to 23.4 million tonnes.
The forecast for production and export of Ukrainian corn has remained unchanged: 30.5 million tonnes and 21 million tonnes correspondingly.
Global wheat consumption and trade is also predicted to increase.
The forecast of global wheat consumption has increased by 1.8 million tonnes to 796.5 million tonnes, mainly due to increased use of grains as feed in India and the EU.
The forecast for global wheat trade has increased by 2.4 million tonnes to 209.5 million tonnes thanks to the increase of export from Ukraine, Russia, Australia and Canada which compensates for the drop in export from the EU.
Predicted final wheat stocks for 2023/24 marketing year have increased by 1.8 tonnes to 260 million tonnes.
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