USDA experts raised their forecast for Black Sea grain crop and exports

Ukraine. As we expected, the wheat and barley crop estimates in the December USDA report were left unchanged, but wheat exports were slightly raised (from 24 MMT to 24.2 MMT) amid high shipments early in the season. The corn crop and export estimates were increased more significantly – to 40 MMT and 32.5 MMT, respectively.

Russia. The forecast for Russia’s wheat crop was brought up closer to market estimates – by 1 MMT, to 75.5 MMT. The figures for other crops remain the same as before.

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

Thus, compared to the November forecast, the Black Sea grain crop in MY 2021/22 increased by 1.5% to 206.3 MMT and export potential gained 1.05% to 115.8 MMT, UkrAgroConsult reports.