The USDA experts left the forecast for wheat production for Ukraine for 2022/23 at 21 million tons. Export figures from our country increased by 0,5 million tons to 13,5 million tons (in January 13,0 million tons). Closing stocks were little changed - 4,21 million tons. This is evidenced by the February USDA report.
The analysts have revised the global wheat harvest 2022/23 in the direction of an increase. Thus, wheat production is forecast at 783,31 million tons, which is 2,49 million tons more than the previous forecast (781,31 million tons in January).
Analysts point out that wheat exports in 2022/23 will be 212,95 million tons, which is 1,33 million tons more than in January (211,62 million tons in January). The forecast for global wheat stocks was upgraded to 269,34 million tons (268,39 million tons in January).
USDA analysts have decided to leave their estimate of US wheat production at 44.90 million tons. The forecast for wheat exports from the USA and ending stocks will be 21.09 million tons and 15.47 million tons, respectively, according to analysts.
The USDA analysts have not changed their forecast for wheat production in China for 2022/23. According to the February report, wheat production forecast will be 137,72 million tons. At the same time, imports will increase to 10,0 million tons (9,5 million tons in January). The ending inventory is 144,58 million tons.
Recall that a law has come into force in Ukraine, which establishes special export conditions for certain agricultural products. The purpose of the innovations is to return foreign exchange earnings from the sale of agricultural products abroad to Ukraine in a timely manner.
Source: Ukragroconsult (Ukraine)