International Grains Council raises its forecast for Russian wheat exports this season to 43.6 mln tonnes

MOSCOW. Aug 22 (Interfax) - The International Grains Council (IGC) in its August review has raised its forecast for wheat exports from Russia in the current agricultural year (July 2025-June 2026) to 43.6 million tonnes from 43 million tonnes in July.

In July, the estimate was unchanged; in June, it was reduced by 0.3 million tonnes to 43 million tonnes, and in May it was increased by 0.8 million tonnes to 43.3 million tonnes.

The wheat harvest forecast has also increased to 83.7 million tonnes, from 81.7 million tonnes in July.

According to the review, the forecast for total grain exports has also been raised by 0.6 million tonnes to 52.4 million tonnes. The grain harvest is estimated at 122.1 million tonnes compared to 120.1 million tonnes in July.

The export forecast for wheat from Russia's closest competitor, the European Union, has been raised to 32.5 million tonnes from 32 million tonnes a month earlier; total grain exports have been reduced to 44.9 million tonnes from 45.7 million tonnes, respectively. The grain harvest in the EU this year is forecast at 280.4 million tonnes, including 137.2 million tonnes of wheat.

According to the IGC, the global grain harvest in the current agricultural year will amount to 2.404 billion tonnes (2.376 billion tonnes according to the July forecast), including 811 million tonnes of wheat (808.3 million tonnes).