By KYIV. Nov 10 (Interfax-Ukraine) – The US Department of Agriculture (USDA) forecasts the harvest of coarse grains in Ukraine in the 2023/24 marketing year by 1.85 million tonnes, to 36.42 million tonnes, including corn – by 1.5 million tonnes, to 29.5 million tonnes.
According to the USDA November report, at the same time it raised the forecast for wheat exports this year by 1 million tonnes, to 12 million tonnes, with an unchanged harvest estimate of 22 million tonnes by reducing ending stocks at the end of this year to 3.08 million tonnes.
As for coarse grains, despite a significant increase in harvest expectations, the export forecast was improved less – by 0.7 million tonnes, to 22.07 million tonnes, including corn – by 0.5 million tonnes, to 20 million tonnes.
Accordingly, the USDA increased the estimate of ending stocks of coarse grains at the end of this year by 1.15 million tonnes, to 7.45 million tonnes, including corn by 1 million tonnes, to 6.43 million tonnes.
Overall, the updated global wheat forecast for 2023/24 worsened by another 1.45 million tonnes to 781.98 million due to lower harvests in India, Argentina and Kazakhstan, as well as Brazil and the UK, which is partially offset by improved estimates in Russia by 5 million tonnes, to 900 million tonnes.
The global consumption estimate was maintained at 792.84 million, while global exports were reduced by 1.25 million tonnes to 205.01 million tonnes due to Argentina and India.
As for corn, the forecast for its harvest in November was improved by 6.3 million tonnes, to 1.221 billion tonnes, and for exports – by 3 million tonnes, to 199.62 million tonnes.
