Source: Zerno.ru (Russia)
In its report from March, the U.S. Department of Agriculture has made a slight adjustment to its wheat harvest forecast for Russia for the current crop year (July 2024-June 2025), increasing it to 81.6 million tons, a rise of 0.1 million tons. The anticipated carryover ending stocks have also seen an increase, moving from 9.74 million to 10.34 million tons.
The projection for Russian wheat exports has been reduced once more, now estimated at 45 million tons, down by 0.5 million tons from the February report.
Conversely, the corn harvest forecast has been improved, with estimates raised from 13.25 million to 14 million tons. The exports for corn remain constant at 3.3 million tons, while carryover stocks are at 0.91 million tons.
The production forecast for coarse grains has been adjusted upward to 34.78 million tons, an increase of 0.81 million tons. Exports are projected at 6.65 million tons, up from 6.25 million the previous month, and ending stocks are expected to be 1.44 million tons.
For the European Union, the wheat export estimate has been downgraded by 1 million, now at 27 million tons, although the wheat production forecast for the EU has remained steady at 121.3 million tons.
In Ukraine, the wheat harvest forecast has increased to 23.4 million tons, up by 0.5 million tons. Wheat exports are unchanged at 15.5 million tons, with ending stocks estimated at 1.69 million tons. Meanwhile, the corn production forecast has been raised to 26.8 million tons, an increase of 0.3 million tons, while the export forecast remains steady at 22 million tons.
The Kazakhstan wheat harvest estimate has not changed, remaining at 18.58 million tons, with exports also steady at 10 million tons. The transient ending stocks are projected at 4.22 million tons.
Globally, the wheat harvest forecast for the current agricultural year has been elevated to 797.23 million tons, an increase of 3.44 million tons. The feed grain forecast is now 1 billion 495.74 million tons, up from 1 billion 492.52 million tons in the prior report, while the corn estimate stands at 1 billion 214.17 million tons, compared to 1 billion 212.47 million tons previously.