USDA forecasts for wheat and grain exports: Russia holds the lead, EU lowers forecasts.

In the latest research by the US Department of Agriculture regarding wheat exports from Russia for the next agricultural year (July 2024 - June 2025), the forecast remains unchanged at 48 million tons. The same forecast was made in the June review.

At the same time, the estimate for the European Union's wheat exports, Russia's main competitor, has decreased from 35 to 34.5 million tons.

The forecast for wheat harvest in Russia also remains at the level presented in June - 83 million tons.

The forecast for exports of feed grains has also decreased from 10.2 to 9 million tons, with the harvest estimated at 39.23 million tons compared to 40.43 million tons as indicated in the June review.

Regarding Russian corn, the US Department of Agriculture has lowered the export forecast to 4.6 million tons from 5 million tons in June, while the expected harvest will be 15 million tons, slightly lower than the previous month.

However, it should be noted that the US Department of Agriculture does not consider data from Crimea and new territories in its forecasts.

The forecast for global wheat production is 796.19 million tons (compared to 790.75 million tons in the June forecast), for feed grains - 1.512 billion tons (compared to 1.511 billion tons), and for corn - 1.225 billion tons (compared to 1.221 billion tons).