ProAgro Group analysts have updated their forecasts for this year’s grain and oilseed harvest in Ukraine, taking into account operational information coming from the fields. We also adjusted the estimated planted areas for soybeans and sunflowers. Currently, in our opinion, the actual areas planted with these two crops exceed the official estimate by 150 thousand hectares for each.

In particular, we raised this year’s corn yield estimate by 1 centner/ha or 1.38%. At the same time, considering the slow pace of harvesting caused by high grain moisture against the backdrop of expensive gas, we further reduced the size of the harvested areas. According to the updated forecast, not 2%, as we calculated earlier, but 3% of the total corn planted area may be left for overwintering. As a result, our corn production forecast was raised insignificantly – by only 131.5 thousand tonnes.

Also, considering the existing yield of oilseeds, we were forced to reduce our forecast for this year’s sunflower potential by 1.1 centner/ha (-4.45%) and increase it for soybeans by 0.9 centner/ha (+3.5%). Taking into account the acreage correction, the sunflower production forecast compared to October was reduced by 710 thousand tonnes, and soybeans – by 12.7 thousand tonnes.