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USDA Revises Black Sea Grain Forecasts


The US Department of Agriculture has revised up its forecasts for Russian and Ukrainian wheat exports in 2015/16 (Jul-Jun) by 1.0 Mt each, to 21.0 Mt and 11.5 Mt, on the expectation of higher production. The forecast for Russian corn exports in 2015/16 (Oct-Sep) has also been revised up by 1.0 Mt, to 3.5 Mt, on the prospect of a stronger crop, while the forecast for Ukrainian corn exports was left unchanged at 16.0 Mt.