USDA ups Ukrainian grain harvest forecast to 65m from 61m tons

The US Department of Agriculture (USDA) has revised its grain harvest forecast for Ukraine upwards from 61m to 65m tons for this year. This is almost the same as Ukraine harvested last year, 66m tons. Compared to its July forecast, the USDA revised its wheat harvest projection to 26.5m from 24m tons, while the projection for maize (corn) is unchanged at 28.5m tons. The USDA also revised its grain export forecast for the 2017-2018 marketing year upwards, by 10% to 42.1m tons. In particular, the forecast for wheat export is up by 2m to 16m tons. This past marketing year, Ukraine set a grain export record of 43.8mn tons.

The Ukrainian agriculture ministry was less upbeat that the USDA early this month, forecasting a grain harvest of 60m-63m tons, depending on weather conditions, while the Ukrainian Grain Association forecast 64m tons. So far this month, conditions for harvesting have been very good.