ProZerno publishes new harvest forecasts for Russia in 2023

Published 2023년 7월 11일

Tridge summary

The grain harvest in Russia is predicted to slightly exceed 135 million tons, with a significant portion being grade 3 wheat. Last season saw record-breaking grain export deliveries at 58.2 million tons, and large carry-over stocks of grain were observed at 27.5 million tons. Soybean prices are rising due to lower harvest forecasts in the Southern Hemisphere, but sunflower oil is becoming cheaper due to high stocks of sunflower in Russian warehouses.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Grain and oilseed harvest estimates updated The grain harvest this year will slightly exceed 135 million tons, Vladimir Petrichenko, general director of the ProZerno analytical company, said with reference to the Grain Quality Assessment Center (CSC). By the end of the season - June 30 this year - Russian farmers harvested more than 1.5 million tons of grain, of which 306 thousand tons were wheat, the rest was barley. The share of grade 3 wheat in the surveyed batches was 49%, grade 4 - 14.3%, grade 5 - 37%. Export grain deliveries, according to ProZerno, last season amounted to 58.2 million tons, and together with processed products, according to the ZOKZ, 72.3 million tons. Both figures were a historical record. ProZerno also notes large carry-over stocks of grain at the end of the season - at the level of 27.5 million tons (a record in the history of post-Soviet Russia). Wheat prices in the new season, according to Petrichenko's forecast, will increase in comparison, "however, ...

Source: Zol