USDA July Report on RF, EU, Kazakhstan, and Ukraine
Russian Wheat: The forecast for wheat collection in Russia remains unchanged at 83 million tons for the current agricultural year. The estimate for wheat exports also remains steady at 48 million tons.
EU Adjustments: Wheat export forecast for the EU is decreased by 0.5 million tons to 34.5 million tons, with production also down by 0.5 million to 130 million tons.
Ukraine's Stability: Wheat and corn production forecasts in Ukraine remain unchanged, with export estimates also stable.
Kazakhstan Consistency: Estimates for wheat harvest and exports in Kazakhstan remain consistent with previous reports.
Global Increases: Global wheat and corn production forecasts have increased, suggesting a robust supply in the upcoming year.
Regional Focus: The USDA report excludes data from Crimea and new territories.
Conclusion
The USDA July report indicates stable grain forecasts for major regions, with minor adjustments in the EU and a slight increase in global production expectations.
