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).
During the period from 01.07.2023 to 30.04.2024, Russia exported 57.8 million tons of grain crops /+10% compared to the previous year/, including 47.2 million tons of wheat /+4.4%/, 6 million tons of barley, and 4.579 million tons of corn.
IKAR lowered its forecast for the grain production in Russia for 2024/25 from 146 million tons to 142 million tons, including wheat production of 91 million tons (previously 93).
