Volga Baikal AGRO NEWS Update on the Russian Grain Market !!!

It is expected the export of the wheat will reach 38.9 million tons

Volga Baikal AGRO NEWS Update on the Russian Grain Market !!!

The International Grains Council has raised the forecast for the wheat exports from Russia this agricultural year!

In October, 2020 the International Grains Council (IGC) raised the forecast of the wheat export from Russia this agricultural year (July 2020 – June 2021 ) up to 38.9 million tons. In September, 2020 the figure was 38.1 million tons. The information is provided by the Agency Financial Market. The grain export from the Russian Federation in the whole has been increased up to 48.8 million tons (48.1 million tons a month earlier).

The IGC increased the forecast for the wheat harvest in Russia this year by 1 million tons, up to 82.5 million tons. The forecast of carry-over stocks (as of July 01, 2021) has been reduced to 10.5 million tons from 11.4 million tons in September. The forecast for the grain harvest in Russia in the whole has been raised up to 124.6 million tons from 123.6 million tons according to the September estimate, carryover stocks – up to 14.5 million tons from 13.4 million tons.

The Ministry of Agriculture of the Russian Federation predicts the grain harvest this year in the amount of more than 125 million tons, including at least 82 million tons of wheat.

This agricultural year, according to the IGC the world grain harvest will amount up to 2,226.9 million tons (according to September estimates – 2,225.6 million tons), including 763.9 million tons of wheat (763.4 million tons in September).

Source: SpecAgro – Analytics of the RF Agriculture

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