Ukraine has already harvested 71.5 million tons of the new harvest, and the USDA has improved its forecast for Ukrainian corn and wheat exports.

According to the Ministry of Agriculture, as of November 10 farmers have harvested 71.5 million tons of new grain and oil crops. This figure includes more than 51.27 million tons of grain and 20.24 million tons of oil crops.

Meanwhile, the US Department of Agriculture (USDA) has updated its forecast for the balance of major crops for the 2023/2024 marketing year. Ukraine’s expected figures for corn production increased by 1.5 million tons to 29.5 million tons, and for export – by 500,000 tons to 20 million tons.

In addition, the ministry predicts that Ukraine’s wheat production will remain unchanged, and exports will increase by one million tons to 12 million. Updated global wheat forecasts predict increased supply, ending stocks, and lower consumption and trade volumes. As for corn, all indicators are expected to grow.