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The forecast for grain exports from Russia remains stable, with an increase in crop yields.
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The forecast for grain exports from Russia remains stable, with an increase in crop yields.

The US Department of Agriculture has forecasted wheat exports from Russia at 48 million tons. The forecast for wheat exports from the European Union has been reduced to 34.5 million tons. Wheat harvest in Russia is projected at 83 million tons. Forecasts for corn exports have also decreased. Global grain yields are estimated to be higher.

6 December 2024 6 December 2024

According to the latest review from the USDA, the forecast for wheat exports from Russia for the new agricultural year remains unchanged at 48 million tons (July 2024 - June 2025). The same forecast was given in the June version. Interfax reports this.

The forecast for wheat exports from the European Union has been reduced to 34.5 million tons compared to 35 million tons in June.

Estimates suggest that wheat harvest in Russia will remain at the level of 83 million tons. The forecast for feed grain exports has also decreased to 9 million tons, instead of the previous 10.2 million tons. Around 39.23 million tons will be harvested, compared to 40.43 million tons in June.

The forecast for Russian corn exports has also been lowered to 4.6 million tons from the previous 5 million tons. It is expected that around 15 million tons of corn will be harvested, instead of 15.4 million tons.

It is worth noting that data for Crimea and new territories are not taken into account by the USDA in its forecasts.

Global wheat production is forecasted at 796.19 million tons (compared to 790.75 million tons in June), feed grain - 1.512 billion tons (compared to 1.511 billion tons), and corn - 1.225 billion tons (compared to 1.221 billion tons).

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