In the latest report, the US Department of Agriculture has not changed the forecast for wheat production in Russia in the current agricultural year (July 2024 - June 2025) - 83 million tons. However, they have reduced the estimate of final stocks from 7.74 million to 6.74 million tons.
The forecast for wheat exports from Russia remains at 48 million tons.
The forecast for corn production has been lowered to 15 million tons (-400,000 tons compared to the June report). The forecast for corn exports is 4.6 million tons (-400,000), and final stocks remain at 0.41 million tons.
The production of feed grains has been reduced from 40.43 million to 39.23 million tons, with the export forecast at 9 million tons (10.2 million), and final stocks estimated at 1.21 million tons (1.22 million).
The wheat export estimate for Russia's main competitor, the European Union, has been reduced by 0.5 million to 34.5 million tons. The wheat production forecast in the EU has also been reduced by 0.5 million to 130 million tons.
The forecast for wheat exports from Ukraine remains at 13 million tons. The wheat harvest forecast also remains at 19.5 million tons, with final stocks at 0.96 million tons. The corn production forecast remains at 27.7 million tons, and corn exports remain at 24.5 million tons.
Forecasts for wheat production in Kazakhstan remain unchanged at 14.5 million tons. Exports also remain unchanged at 10.5 million tons. Final stocks are estimated at 2.18 million tons.
The forecast for global wheat production in the current agricultural year has been raised to 796.19 million tons (+5.44 million), feed grains - 1.51238 billion tons (compared to 1.51119 billion tons in the previous report), corn - 1.22479 billion tons (compared to 1.22054 billion tons).
In its forecasts, the US Department of Agriculture does not take into account data on Crimea and new territories.