USDA Cuts Ukrainian Wheat Exports Amid Increased Production Forecasts

The US Department of Agriculture (USDA) has released its September report on Ukrainian agricultural exports. The report forecasts that Ukraine's wheat harvest will reach 26 million tonnes, a 0.6 million tonne increase from last month's estimate. However, the expected export volume for wheat is 12.5 million tonnes, a decrease of 1 million tonnes compared to previous estimates.

The USDA also increased its forecast for the barley harvest in Ukraine by 0.5 million tonnes to 6.6 million tonnes, but reduced the projected exports from 2.1 million tonnes to 1.9 million tonnes. The agency's corn production and export forecasts remain unchanged at 31.8 million tonnes and 22 million tonnes respectively.

According to the report, global wheat production is expected to reach 822.4 million tonnes, an increase of 3.1 million tonnes from last year. Global barley production is forecasted to be 160.9 million tonnes, up by 3.8 million tonnes, with a projected trade volume of 31.8 million tonnes.