USDA Reduces Forecast for Russia's Wheat Production and Export
Reduction in Wheat Forecast: The U.S. Department of Agriculture (USDA) has lowered its forecast for Russia's wheat production for the agricultural year July 2024 to June 2025 by 5 million tons, now expecting a total of 83 million tons.
Wheat Export Decrease: The forecast for wheat export from Russia is reduced by 4 million tons, now estimated at 48 million tons.
Corn and Feed Grain Production: Projections for corn harvest are down to 15.4 million tons, with a slight reduction in feed grain production to 40.43 million tons.
EU and Ukraine Wheat Export and Production: The EU's wheat export forecast is increased by 1 million tons, while Ukraine’s forecast is reduced both in production and export.
Global Impact: The global wheat collection is estimated at 790.75 million tons, reflecting a decrease, along with adjustments in other grains like corn.
Conclusion: The report highlights significant reductions in forecasted wheat production and exports for Russia, adjustments in global grain forecasts, and contrasts with other regions like the EU and Ukraine.
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