News

Russia wheat crop seen staying high in 2024 at 90 million tons

Wheat
Russia
Market & Price Trends
Published Nov 30, 2023

Tridge summary

Agritel predicts that Russian wheat production will reach 90 million tons in 2024, marking a third consecutive bumper harvest. This estimate suggests that the record-breaking production seen in Russia over the past two years will continue. With stocks taken into account, the total supply of Russian wheat is expected to remain above 100 million tons for the third straight season in 2024/25.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Combined with stocks, the harvest outlook would keep total Russian wheat supply above 100 million tons for a third straight season in 2024/25, it said in a note. Russia, the world’s biggest wheat exporter, harvested a record crop in 2022 and this year’s production is expected to be its second largest. Agritel, which does not include Crimea and other annexed regions of Ukraine in its Russia forecasts, estimates the 2022 crop at 96.5 million tons and 2023 output at 89.6 million tons. The initial projection for next year’s crop included an expected 65.8 million tons of winter wheat and 24.2 million tons of spring wheat, which is mainly sown in April. The winter wheat area is expected to rise, although by less than in official estimates as some growers may switch to other crops depending on export taxes and profit margins, Agritel said. A dry start to autumn caused some ...
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