Tag
Exports
The start of the 2020 wheat harvest campaign around the Black Sea was a disaster. Both Russia and Ukraine were reporting yields around 30% lower than a year ago after a prolonged dryness period in spring which damaged crops in the region substantially.
* Wheat exports forecast is down again
* Ending stocks are estimated at 6.6 MMT, the lowest since 2007/08
The export forecast has been lowered again. The reason is the current weak pace and low crop figures for 2019, released by Rosstat in December.
Ukraine is expected to harvest a record-high corn crop this year which threatens the US exports to Asia