The USDA increased the forecast of wheat harvest in Russia

Moscow. July 12. INTERFAX.RU – the USDA increased the forecast of wheat harvest in Russia in 2017 by 3 million tons to 72 million tons, reported in the July review of the Department. In June, the forecast was raised to 69 million from 67 million tons for the may assessment.

The forecast of wheat exports in 2017-2018 marketing year (started in July) increased to 30.5 million tons from 29 million tons. Evaluation of carryover stocks at the end of this agricultural year has also been increased to 11.84 million tons from 11.63 million tonnes.

According to the updated forecast, the production of fodder grain in Russia to 2017 is expected at the level of 41.65 million tons (the June estimate was below – 41,15 million tonnes). Evaluation of the export of this grain was increased to 9.66 million tons from 9.56 million tonnes in June, the carryover stocks at the end of the 2017-2018 crop year to 2.1 million tons with 2 million tons.

The USDA reduced the estimate of world wheat crop (up to 737,83 million tonnes 739,53 million tons) against the background of worsening forecasts of production of this grain in the United States, Australia, China and the European Union, which only partially offset by improved expectations in Russia and Turkey.

Forecast world production of coarse grains has been raised to 1 billion 316,44 million tons 1 billion 310,33 million tons, according to the June survey.