USDA keeps surprising with its optimism

UkrAgroConsult

Ukraine. The 2021/22 wheat crop and export estimates were raised by 0.5 MMT to 29.5 MMT and 20.5 MMT, respectively, amid favorable weather conditions. For the same reason, the barley crop and export projections were increased by 100 KMT to 9.1 MMT and 5.1 MMT, respectively. The corn estimates were left unchanged from the previous forecast report.

Russia. Despite heavy criticism over a too optimistic wheat crop forecast in the previous report, USDA analysts decided to raise their estimate again, to 86 MMT (+1 MMT) because of expanded plantings. At the same time, the export forecast was left at 40 MMT. The crop and export estimates for barley and corn were not changed either, UkrAgroConsult reports.

Kazakhstan. In its June report, the USDA left unchanged the crop and export estimates for major grain crops in Kazakhstan.  Thus, the Black Sea 2021/22 grain crop forecast increased by 0.75% from the May report, to 215.8 MMT, with projected export potential up 0.53% at 114.8 MMT.

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Tags: Ukraine, Russia, Kazakhstan