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.

Reference source: http://bit.ly/3ypVGks