The U.S. Department of Agriculture (USDA), in its June report published on Friday, raised its forecast for Ukrainian corn this year by 5 million tons compared to a month ago, to 25 million tons, while maintaining export estimates at 9 million tons.
American experts increased the forecast for carry-over stocks for the upcoming 2022/2023 marketing year (MY) by 4 million tons – up to 12.07 million tons compared to 6.77 million tons for the current MY.
In addition, USDA raised the estimate of domestic consumption in the new MG by 1.5 million tons – up to 10.7 million tons.
According to the report, in general, the forecast for the feed grain harvest in Ukraine for MY 2022/23 has been increased by 5.2 million tons, to 31.76 million tons, although at the same time, the export estimate has been reduced by 0.2 million tons, to 10.83 million tons.
American experts have increased the forecast of feed grain carry-overs following the results of the upcoming MY by 3.9 million tons – up to 13.06 million tons compared to 7.77 million tons at its beginning.
In addition, USDA raised the estimate of domestic consumption of feed grains in the new MG by 1.5 million tons – up to 15.65 million tons.
The US Department of Agriculture recalled that in the past 2020/21 MY, the wheat harvest in Ukraine amounted to 25.42 million tons, and exports – 16.85 million tons. According to his estimates, in this ending MY, with a crop that has grown to 33.01 million tons, exports will increase to 19 million tons, and carryovers – from 1.51 to 5.61 million tons. In addition, American experts expect domestic wheat consumption in Ukraine to grow to 10 million tons in 2021/22 MY from 8.7 million tons in the previous MY due to livestock.
As for corn, according to the report, in the past 2020/21 MY, its harvest in Ukraine was 30.3 million tons, and exports – 23.86 million tons. According to USDA estimates, in this ending marketing year, with a corn crop that has grown to 42.13 million tons, its exports will decrease to 23 million tons, and carry-over stocks will jump from 0.83 to 6.77 million tons. In addition, American experts expect domestic corn consumption in Ukraine to grow to 13.2 million tons in 2021/22 MY from 7.1 million tons in the previous MY, also due to livestock.
In general, the feed grain harvest in Ukraine in 2020/21 MY, according to the US Department of Agriculture, was 39.59 million tons, and exports were 28.15 million tons. According to USDA estimates, in this ending MY, with a forage grain harvest that has grown to 53.51 million tons, it will increase only to 29.06 million tons, and carry-over stocks will jump from 1.65 to 7.77 million tons. In addition, American experts expect in 2021/22 MY an increase in domestic consumption of feed grains in Ukraine to 18.37 million tons from 12.41 million tons in the previous MY, also due to livestock.
