Russia: Experts have reduced forecasts for wheat export shipments in November due to bad weather in the south

Published Nov 27, 2023

Tridge summary

Grain market experts are reducing their forecasts for wheat export shipments in November from the Russian Federation due to stormy weather in the south. The new estimates predict wheat shipments to be around 3.8-4 million tons, compared to initial predictions of 4.3-4.5 million tons. The bad weather has caused delays at Black Sea terminals, and the situation is expected to continue into December, potentially affecting exports for that month as well.

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Original content

Moscow. November 27. INTERFAX.RU - Grain market experts are reducing forecasts for wheat export shipments in November due to stormy weather in the south of the Russian Federation. New estimates do not exceed 4 million tons. “Two weeks ago it became clear that exports would be no more than 4 million tons. Our new estimate of wheat shipments is 3.8-4 million tons, although at the beginning of the month they predicted 4.3-4.5 million tons,” reported “ Interfax" General Director of the Institute for Agricultural Market Studies (IKAR) Dmitry Rylko. According to his estimates, due to bad weather, the Black Sea terminals will lose 12 days in November, with an average loss for this month of 8 days. “The situation with the port of Kavkaz is even more complicated. And the weather in Azov is also not very good,” he said. Assessing exports in December, Rylko said that “there are a lot of orders, but everything will naturally depend on the weather.” “If the weather were ideal, we could ship ...

Source: Interfax