Due to Russian aggression this year, Ukraine exported 26.4% less grain.

The actual volume of grain exports by Ukraine since the beginning of the 2023/2024 marketing year as of December 13 is 14.697 million tons, which is 26.4% less than in the same period last year.

Meanwhile, the USDA increased the Ukrainian corn harvest forecast by 3.3% to 30.5 million tons. Wheat production indicators did not change (22.5 million tons). The export of both crops is predicted to increase: wheat up to 12.5 million tons, corn up to 21 million tons.

The forecast for global wheat production rose to 783 million tons, and the trade forecast improved to 207.2 million tons thanks to increased exports by Australia, the US, Canada, and Ukraine. The forecast for global wheat ending stocks was cut to 258.2 million tons, the lowest since the 2015/16 marketing year.

The forecast for world corn production increased to 1,222.1 million tons. Global exports are also expected to increase to 201.5 million tons and final stocks to 315.2 million tons.