The U.S. Department of Agriculture (USDA) in its report for June published on Friday increased the forecast for Ukrainian corn crop for trade year (TY) 2022/23 by 5 million tonnes compared to the forecast a month ago, to 25 million tonnes, while keeping the export estimate at the level of 9 million tonnes.
U.S. experts increased the forecast for carryovers for 2022/23 TY by 4 million tonnes, to 12.07 million tonnes compared to 6.77 million tonnes for 2021/22 TY.
In addition, USDA raised the estimate of domestic consumption in 2022/23 TY by 1.5 million tonnes, to 10.7 million tonnes.
According to the report, in general, the forecast for the feed grain harvest in Ukraine for 2022/23 TY has been increased by 5.2 million tonnes, to 31.76 million tonnes, although at the same time, the export estimate has been reduced by 0.2 million tonnes, to 10.83 million tonnes.
U.S. experts have increased the forecast of feed grain carryovers following the results of 2022/23 TY by 3.9 million tonnes, to 13.06 million tonnes compared to 7.77 million tonnes at its beginning.
In addition, USDA raised the estimate of domestic consumption of feed grains in 2022/23 TY by 1.5 million tonnes, to 15.65 million tonnes.
The U.S. Department of Agriculture recalled that in 2020/21 TY, the wheat harvest in Ukraine amounted to 25.42 million tonnes, and exports reached 16.85 million tonnes. According to its estimates, in 2021/22 TY, with a crop that has grown to 33.01 million tonnes, exports will increase to 19 million tonnes, and carryovers – from 1.51 to 5.61 million tonnes. In addition, U.S. experts expect domestic wheat consumption in Ukraine to grow to 10 million tonnes in 2021/22 TY from 8.7 million tonnes in the previous TY due to livestock.
As for corn, according to the report, in the past 2020/21 TY, its harvest in Ukraine was 30.3 million tonnes, and exports – 23.86 million tonnes. According to USDA estimates, in this ending trade year, with a corn crop that has grown to 42.13 million tonnes, its exports will decrease to 23 million tonnes, and carryovers will jump from 0.83 to 6.77 million tonnes. In addition, U.S. experts expect domestic corn consumption in Ukraine to grow to 13.2 million tonnes in 2021/22 TY from 7.1 million tonnes in the previous TY, also due to livestock.
In general, the feed grain harvest in Ukraine in 2020/21 TY, according to the U.S. Department of Agriculture, was 39.59 million tonnes, and exports were 28.15 million tonnes. According to USDA estimates, in this ending TY, with a coarse grain harvest that has grown to 53.51 million tonnes, it will increase only to 29.06 million tonnes, and carryovers will jump from 1.65 to 7.77 million tonnes. In addition, the experts expect in 2021/22 TY an increase in domestic consumption of coarse grains in Ukraine to 18.37 million tonnes from 12.41 million tonnes in the previous TY, also due to livestock.
Ankara is awaiting a response from Moscow on organizing a possible meeting between Turkey, Russia, Ukraine and the UN to discuss the issue of exporting grain from Ukraine, Turkish Foreign Minister Mevlut Cavusoglu said on Saturday.
“Our position was stated very clearly. We are awaiting a response from the Russian side, both on the issue of holding the meeting and other details,” the Anadolu agency quotes him as saying.
“We stressed the Turkish side’s readiness to organize a quadripartite meeting in the UN-Turkey-Ukraine-Russia format. This is ultimately a UN initiative,” the minister said.
Cavusoglu said that during talks this week with Russian Foreign Minister Sergei Lavrov, he explained that the UN plan to transport grain from Ukraine by sea is the best.
Earlier this week, the Turkish Foreign Minister said that Ankara considers the UN plan to export grain from Ukraine feasible. He noted that discussions are underway on the creation of a “grain corridor” mechanism in the Black Sea with the participation of the UN, Russia, Ukraine and Turkey.
Ukrainian metallurgical enterprises in January-May of this year reduced the production of general rolled products, according to operational data, by 52.7% compared to the same period last year, to 3.789 million tonnes.
As reported in the information of the association Ukrmetallurgprom on Saturday, for the first five months of the year, steel production fell by 52.8%, to 4.244 million tonnes, pig iron – by 53.3%, to 4.154 million tonnes.
Earlier, Ukrmetallurgprom reported that Ukraine in the first quarter of this year reduced the production of general rolled products by 34.2% compared to the same period last year, to 3.116 million tonnes, steel by 31.2%, to 3.641 million tonnes, and pig iron by 34.1%, to 3.499 million tonnes.
President of Ukraine Volodymyr Zelensky expressed gratitude to the governments of Western countries and international organizations for financial support to Ukraine.
“I am grateful to the government of Britain, the leadership of the World Bank, the government of Canada for taking new steps in financial support for Ukraine,” he said in a video statement on the night of Friday to Saturday.
He said “the day before, our state received $1.5 billion: $1 billion from the World Bank, another $500 million from the UK. It is direct budget support.”
“We use it to pay wages in the public sector. Canada was the first country to send funds to our administrative account with the IMF, this is CAD 1 billion,” he said.
President of Ukraine Volodymyr Zelensky believes that keeping Ukraine outside the EU, European unification works against Europe.
“The final stage of a large diplomatic marathon has begun, which should end in a week and a half. And we are in this marathon together with the European Union, on the same team,” he said in a traditional video message on Saturday evening.
According to Zelensky, “we will soon receive an answer about the status of a candidate for EU membership.”
“I am convinced that this decision can strengthen not only our state, but the entire European Union. What else needs to happen in Europe to make it clear to skeptics that the very fact of keeping Ukraine outside the EU, European unification works against Europe?” he.
For example, the president noted, “everything is obvious to the Russian occupiers, they say so when they mock our people, this is supposedly because Ukraine went to Europe. Where are the skeptics in Europe then?”
