KYIV: Ukrainian grain traders union UGA cut Ukraine’s 2024 combined grain and oilseeds crop forecast by 2.8 million metric tons to 71.8 million tons due to a heatwave, the union said on Wednesday. UGA said the 2024 harvest could include 23.4 million tons of corn, 19.8 million tons of wheat, 4.95 million tons of barley, 12.8 million tons of sunseed, 4.8 million tons of soybeans and 4.3 million tons of rapeseed.

“Another downgrade of the harvest forecast for the new season was caused by the hot and dry weather in Ukraine in July this year, which had a negative impact on the potential yield of late grains and oilseeds,” UGA said in a statement.

The union said it had also revised down the 2024/25 export outlook, cutting it by 2.5 million tons to 41 million tons. Ukraine exported 57.5 million tons of grain and oilseed in 2023/24. UGA said wheat exports could total 13 million tons, while corn exports could be 18.5 million tons.