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Ukraine: UGA updated its forecasts of the production and exports of grains and oilseeds

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Analysts of the Ukrainian Grain Association (UGA) revised their forecast of the production and exports of grains and oilseeds in 2019/20 MY in Ukraine, and forecasted a new record.

So, in the August forecast the UGA expected for formation of a new record in comparison with the previously made forecast in May 2019: the growth of grains and oilseeds production from 94.7 mln tonnes, to 95.1 mln tonnes, as well as their exports — from 56.9 mln tonnes, to 58.1 mln tonnes.

All major crops faced changes in the forecast. In particular, the wheat harvest will fall to 27.7 mln tonnes (against 28.9 mln tonnes in the May forecast), while the exports will total 21 mln tonnes (20 mln tonnes).

The situation in the barley segment is almost opposite: the production will increase to 8.6 mln tonnes (8.4 mln tonnes), and the shipments on foreign markets will lower to 4.7 mln tonnes (4.9 mln tonnes).

Also, the expectations of corn production and exports were quite optimistic. According to the UGA forecasts, the figures will total 34.5 mln tonnes (32.2 mln tonnes), and 27 mln tonnes (26 mln tonnes), respectively.

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