17.
07.20
08:46

Wheat harvest forecasts in Russia could again be weaker

A spokesman for the Russian Meteorological Institute judged the weather conditions in the first half of July to be unfavorable for the development of the summer grain. Harvest estimates may need to be lowered.
Russia is currently the second largest wheat exporter in the world after the EU. Grain is now harvested in both continents. The weather conditions are very inconsistent. The situation in the first half of July is difficult, so the harvest forecasts have to be lowered.
In Russia, the experts are still expecting a large harvest, similar in size to previous years. The meteorologist did not give more precise numbers.
On July 10, the Russian Ministry of Agriculture estimated the grain harvest in his country at 122.5 million tons, of which 75 million tons would be wheat.
The two leading Russian consulting firms IKAR and SovEcon have already lowered their previous estimates to 76.5 and 79.7 million tons of wheat, respectively. The next update could be lower.

Source
Hansa Terminhandel GmbH
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