This year's grain harvest in Russia will not be a record one

Published Jul 28, 2024

Tridge summary

Deputy Prime Minister Dmitry Patrushev announced that grain and legume collection had doubled compared to the same period last year. The Ministry of Agriculture forecasts 132 million tons of grain, including 86 million tons of wheat, though this is optimistic. IKAR predicts 128 million tons of grain, including 83-84 million tons of wheat. Drought in the Southern and North Caucasus districts and flooding in the Volga region may impact harvests. Corn and sunflower yields are expected to be lower, but a record soybean harvest is possible. SovEkon raised its forecast to 130.5 million tons due to better crop prospects. The USDA maintains a wheat harvest forecast of 83 million tons for Russia, with an export potential of 48 million tons, keeping Russia as the top global wheat supplier.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to Deputy Prime Minister Dmitry Patrushev, by the middle of last week, twice as much grain and legumes had already been collected than on the same date last year. The Ministry of Agriculture still maintains its forecast at 132 million tons of grain (last year - 144.9 million tons), including 86 million tons of wheat (in 2023 - 92.8 million tons). But this is perhaps the most optimistic assessment at the moment. The Institute for Agricultural Market Studies (IKAR) also maintains its forecast for now - 128 million tons of grain, including 83-84 million tons of wheat, IKAR General Director Dmitry Rylko told RG. In the south, the grain crops have already been harvested. As expected, amid drought in two federal districts - the Southern and North Caucasus - the wheat harvest decreased from 38 million tons last year to 31 million tons this year (mainly due to Rostov and Volgograd). A drawdown is also expected in the center due to a reduction in sown areas against the backdrop ...

Source: RG