USDA slashed its 2018/19 soybean crop forecast for Ukraine

14.06.2018

In the June report, USDA left unchanged its 2017/18 oilseed crop estimates for the Black Sea countries. So, the Black Sea region is predicted to produce a total 39.6 MMT of oilseeds in MY 2017/18, reports UkrAgroConsult.

The June estimate for the 2018/19 oilseed crop is down 50 KMT from the May report at 43,425 KMT. This resulted from a 300 KMT cut in the soybean crop forecast for Ukraine (4200 KMT) along with a 250 KMT increase in the 2018/19 rapeseed crop estimate for Russia (1650 KMT).

As of June 11, the soybean seeded area in Ukraine already equaled 1743.8 Th ha, or 90% of the projected 1929 Th ha (official data). Soybean planting is now 93% the progress of last year against 92.6% a week ago. 1876 Th ha had been seeded to soybeans by June 11, 2017. Drought conditions in Ukraine may negatively influence the potential of future soybean crop, UkrAgroConsult’s analysts note.

According to the Ag Ministry of Ukraine, 5738.4 Th ha had been seeded to sunflower by June 11, 2018, or 103% of its projected area of 5559.5 Th ha (official data). The pace of seeding this crop remains record fast, being 2.9% ahead of last year. 5576 Th ha of sunflower was sown a year ago.

More detailed information on the latest trends in oilseeds/vegoils/meals exports, supply and demand balances with breakdown by crop as well as crop conditions and progress in planting in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Vegoils" by UkrAgroConsult.

Further prospects of the Black Sea oilseeds/vegoils market will be discussed at the VI International Conference “Black Sea Oil Trade”, which will take place on September 20, 2018 in Hilton hotel, Kiev, Ukraine.

In 2017 International Conference «Black Sea Oil Trade» attracted 250 delegates from 25 countries and 150 companies.

 

UkrAgroConsult

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