USDA decreased its forecast for the 2017 Black Sea corn crop again

17.10.2017

In its October report the USDA revised the estimates for 2017/18 Blacks Sea corn production and exports again, reports UkrAgroConsult.

So, the corn production and export forecasts for Ukraine were cut by 500 KMT each, to 27 MMT and 21.5 MMT, respectively. The estimates for this year’s Russian corn production and exports were lowered by 700 KMT to 15.3 MMT and by 500 KMT to 5.5 MMT, respectively.

Also, the forecast for Russian wheat production was revised once again. The October USDA estimate for the country’s wheat crop is up another 1 MMT at 82 MMT.

Overall, the forecast for global wheat output was raised by another 6.34 MMT (to 751.19 MMT) at the expense of the EU, India, Russia and Turkey. The estimate for the world’s corn production was also upwardly revised to 1032.63 MMT (up 6.17 MMT) at the expense of predicted crop increases in Nigeria and the USA.

 

UkrAgroConsult

Readers choice: TOP-5 articles of the month by UkrAgroConsult