KYIV, July 31 – The Ukrainian Grain Association (UGA) has lowered its estimate of the potential grain and oilseed crop in 2024 by 2.8 million tons compared to the previous forecast, down to 71.8 million tons, according to the association's press service.

"The current forecast is based on average weather conditions over the past five years, so any improvement or deterioration in these conditions in the spring and summer will bring adjustments. The latest reduction in the crop forecast for the new season is due to hot and dry weather in Ukraine in July this year, which negatively affected the potential yield of late grains and oilseeds," the UGA said in the statement.