Source: Oleoscope (Russia)
In July, Sovecon raised its forecast for grain production by 3.1 million tons to 130.5 million tons. The estimate was revised against the backdrop of improved prospects for the winter and spring harvests, the analysis center said in a statement.
The forecast for wheat production for July was raised by the analysts by a total of 3.5 million tons to 84.2 million tons. The increase was due to the favorable weather for spring wheat in Siberia and the Urals as well as the relatively high yields for winter wheat in the south, the experts said.
The forecast for barley production was raised by 0.7 million tons to 19.3 million tons. This is due to high winter barley yields in the south and favorable weather conditions in the Volga region.
The maize harvest will be reduced by 1.2 million tons to 13.4 million tons due to the dry and hot weather in the south. The weather models show that the unfavorable weather conditions will continue in the near future, increasing the likelihood of additional adjustments.
In mid-July, the Institute for Agricultural Market Conditions (ICAR) raised its forecast for the wheat harvest from 82 million tons to 83.2 million tons.
According to the Russian Ministry of Agriculture, the estimate for this year’s grain harvest remains at 132 million tons, including 85-86 million tons of wheat and 28 million tons of oilseeds.