The outlook was cut from a prior forecast of 76.1m tons, according to the Ukrainian Grain Association.
- Potential drop seen caused by a reduction in the sown area, unfavorable price conditions, relatively expensive export logistics and dry May period in east and south of the country, according to an UGA statement.
- The harvest forecasts include:
- 19.1m tons of wheat comparing to 22m tons in 2023
- 4.6m tons of barley vs 5.8m tons in 2023
- 25.5m tons of corn vs 29.6m tons last year
- 13.7m tons of sunflower vs 14.2m tons last year
- 5.5 m tons of soybean vs 4.9m last year
- Potential exports of grain and oilseeds in the new season, which is due to start on July 1, 2024, may reach 43.5m tons — almost 10m tons less than in the current export season
- NOTE: In 2023 the harvest amounted to 82.8 million tons of grain and oilseed crops