Wheat export forecast from Russia

In the January review of the US Department of Agriculture, forecasts for wheat exports from the Russian Federation were increased by 1 million tons, reaching 51 million tons. The European Union's wheat export forecast was lowered by 1 million tons to 36.5 million tons. The forecast for wheat harvest in the Russian Federation was also raised to 91 million tons.

However, the estimate for feed grain production in the Russian Federation was lowered to 42.94 million tons, and the export forecast remained virtually unchanged at 11.36 million tons. The corn export forecast remained unchanged at 5.3 million tons, while the corn harvest estimate was 17 million tons.

It is important to note that the US Department of Agriculture does not take into account data for Crimea and new territories in its forecasts.

The total world wheat harvest this agricultural year is estimated at 784.01 million tons, coarse grain at 1 billion 513.85 million tons, and corn at 1 billion 235.73 million tons.