USDA has increased the forecasted indicators of Ukrainian export for corn

On March 8, 2023, the United States Department of Agriculture (USDA) updated its global forecast of the balance of major crops for the 2022/23 marketing year.

According to the updated forecasts of the USDA, in 2022/23, Ukraine's indicators of wheat and corn production remain at the level of the previous forecast: 21,0 million tons and 27,0 million tons respectively.

Export indicators for wheat also remain unchanged - 13,5 million tons, and for corn - increased by 1 million tons up to 23,5 million tons.

But the forecast of world corn production reduced by 3,8 million tons to 1,147,5 million tons.

These changes occurred due to a reduce in Argentina (-7 million tons up to 40 million tons), which was partially compensated by an increase in India and Paraguay.

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