Ukraine's grain traders' union UGA has cut its forecast for Ukraine's 2024 combined grain and oilseed crop by 2.8 million metric tons to 71.8 million tons due to a heatwave, it said on Wednesday.
Furthermore, UGA mentioned that the 2024 harvest could include 23.4 million tons of corn, 19.8 million tons of wheat. 4.95 million tons of barley, 12.8 million tons of sunseeds, 4.8 million tons of soybeans. 4.3 million tons of canola.
“Another downgrade of the crop forecast for the new season was caused by hot and dry weather in Ukraine in July this year, which had a negative impact on the potential yield of late grains and oilseeds,” UGA said in a statement.
Finally, the union said it had also revised down its export outlook for 2024/25, cutting it by 2.5 million tonnes to 41 million tonnes. In the previous period, Ukraine exported 57.5 million tonnes of grains and oilseeds in 2023/24.
UGA forecasts exports of wheat to total 13 million tonnes, while corn would be 18.5 million tonnes. Ukraine exported 16 million tonnes of wheat and 26 million tonnes of corn in 2023/24.
Ukrainian meteorologists predict a 20% to 30% reduction in late crop harvest in central, southern and eastern regions due to heat. Acting Agriculture Minister said extreme heat could reduce Ukraine's late crop harvest by up to 15%.
Source: Pavel Polityuk | Notícias Agrícolas
