The U.S. Department of Agriculture (USDA) has updated the world forecast for the balance of the main types of agriculture crops for 2023/24 marketing year (MY).

According to the updated forecasts of the USDA, in 2023/24, Ukraine's indicators of wheat and corn production increased: wheat by 1,5 million tons to 22,5 million tons, and corn by 0,5 million tons to 28,0 million tons. Also wheat export forecasts increased by 0,5 million tons to 11,0 million tons. The corn export forecast will remain unchanged at 19,5 million tons.

Updated global wheat forecasts for MY 2023/24 foresee a reduction in supply, a decrease in consumption, trade volumes and ending stocks.

According to the updated forecasts for the global corn market in MY 2023/24, slight growth in production, stable trade volumes and higher ending stocks are expected.

More details: https://bit.ly/3LpbXwL