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New harvest corn arrival to slow down wheat exports — Agritel
2 October 2020, 11:50
Ukrainian grain exports in September 2020/21 were buoyant with a total of 4.25 mln t of staples loaded, including 3.47 mln t of wheat, 0.75 mln t of barley and only 30 thou. t of corn, the Agritel consultancy reports.
"It should be noted that Ukraine has never shown such momentum in its recent history at this early stage of the season compared to the USDA’s objective," comment the analysts.
In the first three months of the season, Ukraine shipped nearly half of its available wheat exports. The arrival of the corn on the market will mechanically slow down wheat exports, Agritel specialists add.
As reported, Ukrainian wheat supplies in the current season will be particularly low in spring, leaving room to Russian origins on the international stage.
In the 2019/20 season, grains, pulses and flour export from Ukraine totalled the record 57.2 mln t, 6.8 mln t higher YoY (2018/19: 50.4 mln t).
As a reminder, the Ministry for the Development of Economy, Trade and Agriculture of Ukraine and grain market participants signed the Annex to the Memorandum of Understanding on Aug. 17, setting the limit for wheat export from Ukraine in the 2020/21 season at 17.5 mln t, rye 1 thou. t.
