Wheat yield in Ukraine expected 4% lower in 2020/21 — USDA
The USDA experts put wheat yield forecast for Ukraine in 2020/21(July-June) at 4.1% lower — 28 mln t (2019/20: 29.17 mln t, under experts' estimates).
According to the May report, Ukraine's wheat export projection in 2020/21 is cut by 1.5 mln t to 19 mln t vs. the expected 20.5 mln t in the 2019/20 season.
Carryovers in the coming season, on the contrary, are increased to 1.51 mln t vs. 1.23 mln t projected in 2019/20.
Wheat prices for the old and new crop were anticipating new support factors in the USDA May report, while rains in Ukraine and Russia reduced concerns about the prospects for the future harvest.