The USDA maintained the forecast for wheat exports from Russia in the 2023-24 season

The US Department of Agriculture (USDA) maintained the estimate for Russia's wheat exports in the 2023-2024 agricultural year at the January level (changes every July of the first of the named calendar years - ROSNG). Interfax reports this with reference to data from the ministry's February review. The forecast was 51 million tons. It remained unchanged for our country’s closest competitor, the European Union – 36.5 million. For corn, for the third month in a row, the prospects for Russian exports remained unchanged - 5.3 million tons; data for competitors is not provided. The reason for such a stable forecast for Russia could be that the introduction of export duties and technical, as well as geopolitical problems in individual countries are offset by widespread demand for Russian grain in much larger quantities. In particular, let us recall that many poor countries (North Africa, the Near and Middle East and South America), as well as moderately developed and even rich ones from ...