The United States Department of Agriculture (USDA) has updated the global forecast of the balance of major agricultural crops for the 2022/23 marketing year, in which it increased the forecast of wheat export from Ukraine to 12,5 million tons and corn to 17,5 million tons.

According to updated USDA forecasts, in 2022/23, Ukraine's indicators of wheat production will remain unchanged at 20,5 million tons, and wheat export will increase by 1,5 million tons to 12,5 million tons. As for corn, production volumes are expected to decrease by 4,5 million tons to 27,0 million tons with a simultaneous increase in export by 2,0 million tons to 17,5 million tons.

USDA projects that in 2022/23 marketing year wheat  stocks will decrease by 0,5 million tons to 267,3 million tons due to reductions for Canada, Argentina and Ukraine.

Reference source: https://bit.ly/3iMuNCr