ODESA: USDA analysts have increased the forecast for wheat harvest in 2021/22 MY in Ukraine to 33 million tons. This is 3 million tons more than the forecast for July (30 million tons).
So, according to the report, the forecast for wheat exports from Ukraine in 2021/22 MY was increased to 23.5 million tons, which is 2.5 million tons more than the projected volume a month earlier.
However, the world wheat harvest forecast in 2021/22 MY was lowered to 776.91 million tons, which is 15.5 million tons or 2% less than the forecast for July (792.4 million tons). The estimated world wheat exports have been reduced by 5.76 million tons and are expected at 198.23 million tons.
As a result, the price of wheat continues to rise. This week the CPT price in main Ukrainian ports has increased by another 7-8 $/t and is now 250 $/t for milling wheat and 240 $/t for feed wheat.
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