UkrAgroConsult raising its forecast for Ukraine’s grain crop

According to official data of the State Statistics Service, plantings for the 2021 harvest were increased under wheat, corn and barley. UkrAgroConsult is bringing the area figure in its wheat supply and demand balance in line with these, thereby raising its production forecast and wheat export estimate as well.

As of August 5, farmers have already harvested more wheat than a year earlier, 23.43 MMT with an average yield of 4.55 MT/ha.

Generally favorable weather conditions persisted in Ukraine in July. Air temperatures exceeding normal by a few degrees were only observed in some corn-growing regions (Sumy, Poltava), with below-effective precipitation rates reported there. Therefore, for now we leave our corn yield estimate unchanged, but raise the crop forecast at the expense of increasing the acreage figure to the State Statistics Service’s level.

The gain in production allows us raising the estimate of Ukraine’s corn export potential.