US Department of Agriculture maintains Russia's wheat export forecast

The Foreign Agricultural Service of the US Department of Agriculture (FAS USDA) in its August report maintained the forecast for wheat exports from Russia in the 2024/25 season at 48 million tons (55.5 million tons in the previous agricultural year), its harvest also remained the same - 83 million tons (91.5 million tons), while the forecast for the winter wheat harvest was reduced by 1.5 million tons, to 57.5 million tons, and the spring wheat harvest was also increased by 1.5 million tons, to 25.5 million tons. Carry-over stocks will be at the level of 6.7 million tons, as in the previous forecast (10.2 million tons in the 2023/24 season). American analysts do not take into account Crimea and new regions. "Despite smaller harvests in Russia and Ukraine, wheat exports from these countries are expected to remain high, since prices are competitive compared to EU price offers. The EU is likely to lose market share in some of its leading importers, including Morocco, Algeria, ...