The US has increased the forecast for the export of Ukrainian corn.

On March 8, the US Department of Agriculture updated the global estimates for the balance of major crops in the 2022/23 marketing year. Wheat and corn production indicators in Ukraine remain at the previous forecast’s level: 21 million tons and 27 million tons, respectively. Wheat export indicators remained unchanged: 13.5 million tons, and corn increased by 1 million tons to 23.5 million tons. The forecast for global wheat production increased by 5.1 million tons to 788.9 million tons and trade by 1 million tons to 213.9 million tons. The forecast for corn production decreased by 3.8 million tons to 1,147.5 million tons and trade by 6.4 million tons to 174.7 million tons. Reserves are expected to increase by 1.2 million tons to 296.5 million tons.