USDA improved its forecast for Ukraine for wheat and barley
The U.S. Department of Agriculture (USDA) forecasts the wheat production in Ukraine in 2024/25 MY at 21.6 mln tonnes. This is 2.1 mln tonnes more than the previous forecast. This is evidenced by the data in the USDA report for August.
Wheat exports are expected to reach 14 mln tonnes (+1 mln tonnes).
At the same time, the gross harvest of corn will amount to 27.2 million tons (-0.5 million tons), and exports – 24 million tons (-0.5 million tons), experts say.
Barley production in Ukraine this year is estimated at 5.3 mln tons (+0.3 mln tons compared to the July forecast), exports – 2.4 mln tons (+0.2 mln tons).
USDA expects the world wheat harvest in 2024/25 MY to grow to 798.3 mln tonnes (+2.1 mln tonnes) and the trade to increase to 214.85 mln tonnes (+1.96 mln tonnes).
The corn harvest is expected to reach 1219.8 mln tons (-5 mln tons compared to July estimates), and exports – 193.1 mln tons (-1.15 mln tons).
Global barley production is estimated at 145 million tons (-67 thousand tons), and trade at 27.48 million tons (unchanged).
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