SovEcon raises its forecast for Russia's wheat harvest in 2025 by 800,000 tons to 88.6 million tons, reports Reuters. The increase in production is due to higher wheat production in Siberia, as well as other regions. However, according to the company, problems in the southern region remain.
"Most of the recent increase in the harvest came from regions far from export ports, while in the south, Russia's main export hub, the harvest was again weak, which remains a problem for the 2025/26 season," says Andrey Sizov of SovEcon.
On the Chicago Mercantile Exchange, wheat prices fell by 0.7%, corn by 0.6%, and soybeans by 0.5%.