February 15, 2012

USDA lowers Ukrainian wheat exports forecast

In the current marketing year, the USDA has significantly lowered its estimate for Ukraine's wheat exports by 14.3% to six million tonnes.

At the same time, the estimate of foreign supplies of Ukrainian corn has been improved to 14 million tonnes, against the 12 million tonnes projected for January 2012, according to the official website of the USDA.

Despite the decline in the wheat export forecast, US experts predicted the level of total grain exports from Ukraine at 23.11 million tonnes.

In January 2012, the USDA upgraded its forecast for Ukraine's grain harvest by 2.8%, to 55 million tonnes in 2011 due to the revision of the corn harvest to 22.5 million tonnes. The export forecast was retained unchanged - at 23.11 million tonnes, including seven million tonnes of wheat and 12 million tonnes of corn.