Record balances of grain are predicted in Ukraine

A large balance of grain is expected in Ukraine. This will happen due to the difficulties associated with the grain corridor. The market will have to transform to cope with this problem.

The export task for wheat for the 2022-2023 agricultural year is 18.4 million tons. As of March 2023, 11.4 million tons were exported. Thus, Ukraine is behind schedule, because by this time, they should have exported 15.4 million tons. It is expected that the balance of wheat will be 5 million tons more than predicted. In previous years, exports were 2 times greater, so now Ukrainian elevators will have record stocks.

There was also a problem with corn. In fact, Ukraine exported 14.3 million tons; 33 million tons should have been sent for export. It is expected that 13 million tons will remain in the transitional balance. However, this problem can be solved by using corn in alternative energy. For example, it can be used to produce bioethanol.

The best situation is with soybean exports. It is expected that farmers will increase the sowing of this crop. There are also no problems with sunflower residues; it has been largely exported.