Ukraine Corn, Wheat Exports Will Plummet Further, U.S. Says
- U.S. issues forecasts as war raises grain, fertilizer prices
- Wheat, corn and soybean futures leap higher in Chicago
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The U.S. continued to slash estimates for Ukraine’s grain exports as sea routes were curbed following Russia’s invasion.
Ukraine’s corn exports will drop by another 4.5 million tons to 23 million tons and wheat exports by 1 million tons, according to the U.S. Department of Agriculture’s closely watched World Agricultural Supply and Demand Estimates, or WASDE. Global wheat stockpiles were revised down to 278.4 million tons, less than expected by a Bloomberg survey.