In its February report on the balance of major crops in 2021/22 MY, the US Department of Agriculture (USDA) lowered its forecasts of global production of wheat and corn, ProAgro Group reportі, citing published data.
Thus, compared to January report, estimate of global wheat harvest was reduced by American governmental analysts by almost 2.2 million tons – down to 776.4 million tons at the expense of Kazakhstan (-0.2 million tons), Brazil (-0.1 million tons) and other countries.
At the same time, exports of cereals, including flour and processed products increased by 1.75 million tons – up to 208.45 million tons. Consequently, the estimate of the final world balance of wheat has also been reduced by 1.742 million tons – to 278.2 million tons.
For Ukraine, USDA has left forecast of wheat production at the same level – 33 million tons, but export forecast was reduced by 0.2 thousand tons – to 24 million tons.
As for corn, in February report the volume of its production was reduced by 1.6 million tons, compared to January – down to 1205.345 million tons. In particular, the most reduced forecast of the harvest for Brazil, by 1 million tons.
