Ukraine Grain Harvest Forecasts Revised by USDA

The US Department of Agriculture (USDA) has revised its forecasts for Ukraine's grain harvest in 2026/27. According to the August report, wheat production is expected to increase by 1.4 million tons, from 24 million to 25.4 million tons.

However, export forecasts for both crops were lowered, resulting in a significant increase in projected ending stocks. The wheat export forecast was cut from 14.5 million to 13.5 million tons, while the corn export forecast was reduced by 1 million tons to 22 million tons.

The sharp increase in projected wheat ending stocks is attributed to the lower export forecast, which has more than doubled from 2.53 million tons to 4.8 million tons. Similarly, corn ending stocks have been more than doubled from 2.06 million tons to 4.86 million tons.