Sovecon further decline production estimates for Russian Wheat


Published on

SovEcon, a Black Sea market analyst, has reduced its forecast for the Russian wheat crop to 82.1 million tonnes (Mt), down from the previous estimate of 85.7 Mt. This adjustment reflects more extensive damage to winter wheat crops than initially anticipated following the frosts in May. The current weather conditions remain difficult, with many crucial winter wheat regions, including Rostov, experiencing persistent dryness. The May wheat export forecast has been revised upwards by 0.2 Mt to 4.3 Mt, while the forecasts for barley and maize exports remain at 400 thousand tonnes (kt) and 500 kt, respectively.