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Forecast of final wheat stocks in Ukraine increased - USDA

09.07.2020

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