USDA raised its corn crop and export forecasts for Ukraine

Ukraine. As expected, the USDA left unchanged its crop and export estimates for wheat and barley in the January report, but the corn crop and export projections were revised upwardly (up 2 MMT and 1 MMT, respectively) amid a rapidly increasing average yield in the course of harvesting, UkrAgroConsult reports.

Russia. The forecast for the barley crop in Russia was raised by 0.5 MMT to 17.5 MMT at the expense of improved yield. In addition, the estimate of wheat exports was reduced (by 1 MMT to 35 MMT) amid the introduction of a separate quota.

Kazakhstan. The grain crop and export estimates for Kazakhstan were left unchanged.

Thus, the Black Sea grain crop in MY 2021/22 was raised by 1.2% from the December forecast, to 208.8 MMT, while export potential did not change.