USDA estimates gradually nearing the market ones

UkrAgroConsult

As expected, the USDA reduced its estimates for Ukraine, raised those for Russia, and left Kazakhstan figures unchanged, UkrAgroConsult reports.

Ukraine. As before, the main reason for the grain crop decline in Ukraine is drought, which lasted with varying intensity throughout the grain growing season (from last year’s fall planting till full maturity of late crops).

The wheat crop forecast was lowered by 1.5 MMT and the export one by 0.5 MMT, to 17.5 MMT (a limit set under the Memorandum). The crop and export figures for corn were decreased by 2 MMT, with the USDA estimate anyway remaining the highest in the market. The barley crop and export estimates were reduced by 1.2 MMT and 1 MMT, respectively.

Russia. The corn estimate was left unchanged despite drought in growing regions. The wheat crop forecast was lifted by 5 MMT thanks to higher yields in the Volga, Central and Ural federal districts and a larger planted area in the Siberian one. The figures for barley production and exports were lifted by 0.3 MMT.

More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for Online Analytics “Black Sea Grain” in the new innovative tool for agri market participants – AgriSupp by UkrAgroConsult. Subscribe to a 14-day free trial!!

Start using analytical data and increase your efficiency now!

Register to get your demo access: http://agrisupp.com/en/register/1

UkrAgroConsult