USDA lowered its 2017 corn crop forecast for the Black Sea region


In the September report, the USDA revised its estimates for Black Sea grain production and exports in MY 2017/18 for all the key crops, reports UkrAgroConsult.

Corn underwent the most significant changes. The corn production forecast for Ukraine, Russia and Kazakhstan was cut by 1.55 MMT to 44.25 MMT. At the same time, the export estimates were revised differently: that for Russia was reduced by 500 KMT (to 6 MMT), while the figure for Ukraine was raised by 500 KMT (to 22 MMT).

Still, the USDA continued increasing its wheat and barley estimates for the Black Sea region. So, the wheat production forecast for Russia gained another 3.5 MMT and reached 81 MMT, while the respective barley figure is up 2 MMT at 20.5 MMT. Correspondingly, the export estimates were revised upwards: to 32.5 MMT for wheat (+1 MMT) and to 4.5 MMT for barley (+0.7 MMT).

The 2017/18 grain export estimate for Ukraine was raised, too. Its wheat and barley exports are predicted to increase 500 KMT and 200 KMT, respectively (16.5 MMT and 4.6 MMT, respectively).



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