06.
05.24
10:26

Lack of rainfall in the US has an impact on wheat prices

The lack of rain in some US wheat regions led to a rise in US wheat prices on Friday. In Kansas and Minneapolis, the increase was not quite as noticeable. In western Kansas, the eastern regions of Colorado and some parts of Texas, the predicted rains failed to materialize, which could potentially have a negative impact on yields. Only in the southern US wheat-growing regions and in Iowa has the risk of drought eased.

ICAR analysts have revised their forecasts for the grain harvest in Russia downwards due to the dry conditions. The wheat harvest for 2024/25 is now estimated at 91 million tons, which corresponds to a decline of 2 million tons. Total grain production has also been reduced by 2 million tons to 146 million tons. Wheat exports for 2024/25 are forecast at 50.5 million tons, which corresponds to a decline of 1.5 million tons. In the previous year, 92.8 million tons of wheat were harvested and the total grain harvest amounted to 144.9 million tons.

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