Production of Russian wheat is expected to remain at the level of 90 million tons, while corn production is projected to increase to 17 million tons, according to the report by the US Department of Agriculture.

The American Ministry of Agriculture confirms the wheat harvest in Russia at the level of 90 million tons with final stocks of 11.94 million tons.

The forecast for corn has been increased to 17 million tons, with the possibility of exporting 5.3 million tons. The forecast for feed grains has also been increased, reaching 43.2 million tons.

On a global scale, wheat production is expected to reach 783.01 million tons, while corn production is forecasted at 1.22 billion tons.

25 July 2024

The U.S. Department of Agriculture, in its December report, maintains its forecasts for wheat production in Russia for the current agricultural year (July 2023 - June 2024) at 90 million tonnes, with the estimate for ending stocks remaining unchanged at 11.94 million tonnes.

The forecast for wheat exports from Russia also remains unchanged at 50 million tonnes.

However, corn forecasts have been raised. Corn production is increasing from 16 million to 17 million tonnes for the current agricultural year. Russia may export 5.3 million tonnes of corn, and ending stocks will amount to 1.06 million tonnes (compared to 0.76 million in the previous forecast).

Production of feed grains is also increasing to 43.2 million tonnes (+1 million), exports remain unchanged at 11.31 million tonnes, and ending stocks are increasing to 2.07 million tonnes (compared to 1.77 million in the November report).

The wheat export forecast for Russia's main competitor, the European Union, remains unchanged at 37.5 million tonnes. The forecast for wheat production in the EU also remains unchanged at 134.3 million tonnes.

The wheat harvest forecast in Ukraine, as in the previous report, is 22.5 million tonnes. Ending stocks will decrease by 500 thousand tonnes, reaching 2.58 million. The forecast for wheat exports from Ukraine has been raised to 12.5 million tonnes (+0.5 million). The forecast for corn production has been raised from 29.5 million to 30.5 million tonnes. Corn exports have also been increased to 21 million tonnes (+1 million).

Wheat production in Kazakhstan remains at 12 million tonnes. The export forecast also remains unchanged at 10 million tonnes. The estimate for ending stocks remains unchanged at 1.32 million tonnes.

The global forecast for wheat production in the new agricultural year is raised to 783.01 million tonnes (+1.03 million tonnes from November), while feed grain production is projected at 1.50199 billion tonnes (1.49931 billion tonnes in the previous report) and corn at 1.22207 billion tonnes (1.22079 billion tonnes).

The U.S. Department of Agriculture forecasts do not include data on Crimea and new territories.

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