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Bloomberg: Ukraine’s grain export forecast cut 9.3% by UkrAgroConsult

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Aug. 29, 2012, 8:15 a.m. | Business — by Bloomberg

Ukraine’s grain export forecast was cut by 9.3 percent by agriculture researcher UkrAgroConsult because wheat and corn yields declined after a summer drought.
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Ukraine’s grain export forecast was cut by 9.3 percent by agriculture researcher UkrAgroConsult because wheat and corn yields declined after a summer drought.

Grain exports will be 21.15 million metric tons in the marketing year which started on July 1, the researcher said in a statement e-mailed yesterday. This compares with a month-earlier forecast of 23.33 million tons. The harvest forecast was cut to 42.4 million tons from 43.9 million tons in July, according to the note. 

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Phill M Aug. 30, 2012, 2:45 a.m.    

On the plus side, grain prices are going to be fairly high this sales year, compensating for the drop i exports. Sadly, it may be that the increase will mostly be passed onto the Ukrainian people.

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