Forecast of final wheat stocks in Ukraine increased - USDA
USDA experts forecast an increase in final wheat stocks in Ukraine in 2020/21 MY to 1.52 million tons from 1.51 million tons in a June report.
This was reported in the July USDA report.
The wheat yield estimate in 2020 / 21MG has not changed and remained at the level of the June indicator - 26.5 million tons.
In turn, the forecast for grain exports from Ukraine in the reporting period also remained unchanged - 17.5 million tons.
Thus, market expectations regarding a decrease in the forecast for wheat production in Ukraine did not materialize.
Recall that the delay at the beginning of the harvesting campaign in Ukraine led to a shortage of proposals for the supply of early grain to ports. This was the reason for the increase in prices for Ukrainian wheat with delivery in July on a spot, especially since the data on the quality of new-wheat wheat in Ukraine vary greatly depending on the region.
Writed by latifundist.com