The United States Department of Agriculture (USDA) has published a revised World Agricultural Production outlook for the marketing year 2024/2025, downgrading the estimated export values for Ukrainian wheat and corn. At the same time, production values remained the same.
The relevant statement was made by the Ukrainian Agribusiness Club (UCAB), an Ukrinform correspondent reports.
According to the updated outlook, in the marketing year 2024/2025, Ukraine’s wheat and corn production remains at 22.9 million tonnes and 26.5 million tonnes respectively. As for exports, the forecast for Ukrainian wheat reduced by 0.5 million tonnes to 15.5 million tonnes, and corn – by 1 million tonnes to 22 million tonnes.
This marketing year wheat consumption and production values are expected to slightly increase, while trade volumes and ending stocks will reduce. The global wheat production outlook was upgraded by 0.6 million tonnes to 793.8 million tonnes.
The global wheat consumption is likely to rise by 1.8 million tonnes to 803.7 million tonnes, with increased feed and residual use in the EU, Kazakhstan, Thailand and Ukraine.
Meanwhile, the global wheat trade values will reduce by 3 million tonnes to 209 million tonnes, following a decline in exports for the EU, Mexico, Russia, Türkiye and Ukraine (-0.5 million tonnes to 15.5 million tonnes).
The global wheat ending stocks will also decrease by 1.3 million tonnes to 257.6 million tonnes, following a decline in China that can be compensated only partially through increased stocks for Russia, Kazakhstan and Ukraine.
The global corn market outlook for the marketing year 2024/2025 provides for a reduction across all indicators.
In particular, the global corn production is expected to decrease by 1.9 million tonnes to 1,212.5 million tonnes.
The main changes in the global corn trade volumes include a decline in exports from Brazil, Ukraine and South Africa.
The global corn ending stocks will reduce by 3 million tonnes to 290.3 million tonnes.
A reminder that, since the beginning of the marketing year 2024/2025, Ukraine had exported 25.516 million tonnes of grain and leguminous crops, including 10.744 million tonnes of wheat and 12.284 million tonnes of corn.
Photo: Shutterstock/J.J.Gouin
Source: USDA downgrades forecast for Ukraine’s wheat, corn exports in MY 2024/2025
