SovEcon has revised down their forecast for the wheat production in Russia for 2024/25 by 7.3 million tons to 85.7 million tons, which is 1 million tons below the average level of the last five years.
IKAR has lowered its forecast for the wheat production in Russia for 2024/25 by 5 million tons compared to the previous estimate, down to 86 million tons.
According to FAS USDA's forecast for 2024/25, soybean production in Argentina will be 51 million tons (+1 compared to 2023/24 and 25 million tons compared to 2022/23).