Assessing Ukraine’s new crop production
The head of the USDA’s World Agricultural Outlook Board says there’s uncertainty in evaluating Ukraine’s new crop production.
Mark Jekanowski says Ukraine is a major global exporter of wheat, corn, and sunflower oil. “We have to put together some assessments of what we think that new crop year is going to look like, how much of that crop is going to be planted, how it’s going to be harvested, and what the exports might be.”
He says the USDA should monitor Russia-Ukraine war developments for the rest of the marketing year.
“It’s obviously the first time any of us have to deal with wartime-type scenarios and trying to figure out what the market implications could be,” Jekanowski said.
The next set of supply and demand estimates is out June 10th.