In Russia, analysts change the forecast for wheat exports for 2023/2024 MY
Russia
Published Jun 7, 2023
Tridge summary
Leading analytical agencies of the Russian Federation are changing their forecasts for grain exports in 2023/2024 MY. According to SovEcon, the total volume of exports of grain crops will reach 57.2 million tons, writes KazakhZerno.kz. Next season, 45.7 million tons of wheat (+2.7 million tons), 5.2 million tons of barley and 4.3 million tons of corn will be sent from Russia to third countries. Analysts have changed their original forecast, as new information from the Ministry of Agriculture of the Russian Federation appeared.
Original content
Leading analytical agencies of the Russian Federation are changing their forecasts for grain exports in 2023/2024 MY. According to SovEcon, the total volume of exports of grain crops will reach 57.2 million tons, writes KazakhZerno.kz. Next season, 45.7 million tons of wheat (+2.7 million tons), 5.2 million tons of barley and 4.3 million tons of corn will be sent from Russia to third countries. Analysts changed their original forecast as new information from the Ministry of Agriculture of the Russian Federation appeared. The agricultural department has raised its estimates of the harvest, and also announced that intervention purchases are not planned. This will lead to the fact that in the new season, deliveries will start at high volumes, because export operations bring high profitability. Some large transnational traders refused to supply Russian grain. Their decision will not greatly affect the current market. The total volume of exports, according to SovEcon analysts, will not ...
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