The Ukrainian grain traders union (UGA) has revised its forecast for the 2024 combined grain and oilseeds crop, reducing it by 2.8 million metric tons to a total of 71.8 million tons. This adjustment is attributed to adverse weather conditions, specifically a heatwave affecting crop yields.
The forecast breakdown includes:
Corn: 23.4 million tons
Wheat: 19.8 million tons
Barley: 4.95 million tons
Sunseed: 12.8 million tons
Soybeans: 4.8 million tons
Rapeseed: 4.3 million tons
UGA Cuts Ukraine’s 2024 Grain and Oilseeds Crop Forecast to 71.8 Million Tons