9 Feb 2018 15:50

USDA raises Russian wheat export forecast for current farming year to 36 mln tonnes

MOSCOW. Feb 9 (Interfax) - The United States Department of Agriculture (USDA) has in February raised its forecast for Russian wheat exports this farming year (July 2017-June 2018).

The new forecast is 36 million tonnes compared with 35 million tonnes in December, according to February USDA materials.

The department left unchanged its January estimate for the Russian wheat harvest in 2017 at 85 million tonnes. According to the Russian State Statistics Service (Rosstat), Russia harvested 85.5 million tonnes.

The USDA also left unchanged its January estimate for 2017 Russian feed grain production at 42 million tonnes.

The feed grain export forecast has been raised from 9.66 million tonnes in January to 10.06 million tonnes in presently.

The USDA estimated carryover wheat stocks would be 15.33 million tonnes as of July 1, 2018, down from its previous estimate of 16.33 million tonnes, and left its feed grain estimate at 1.75 million tonnes.

The USDA in February lowered its global feed grain production forecast to 1.321 billion tonnes, from 1.324 billion tonnes in January. The global wheat harvest estimate grew from 757.01 million to 758.25 million tonnes.