SovEcon cut Russian wheat crop to 76 mmt, USDA’s forecast – 85 mmt
SovEcon cut Russia’s wheat crop forecast from 82.3 mmt to 76.4 mmt. The main reason is the substantially smaller winter wheat area reported by Rosstat.
Russian wheat crop outlook worsens on hot weather
Outlook for Russian wheat crop worsens. SovEcon cut 2021 crop estimate from 84.6 mmt to 82.3 mmt two weeks ago, USDA lowered its estimate by 1 mmt to 85 mmt a week ago.
Russian wheat prices tumbled on bumper crop expectations but starting yields don’t confirm them
Last week, 12.5% wheat prices in Russia’s deep-sea ports tumbled $12 to $234/mt FOB. This was driven by weaker global benchmarks and expectations of the bumper crop.
Weather helps new Russian wheat crop, SovEcon upped the forecast
SovEcon upped the Russian wheat crop forecast on favorable weather
Russia seeds spring wheat at the highest pace in five years
Russian farmers have seeded 12.8 mln ha of spring wheat compared to USDA’s estimate of 12 mln ha
Weather models predict different precipitation for key Russian spring wheat regions
The weather has been unfriendly for Russian spring wheat so far but things could change this week.
3 reasons why Russian farmers still like wheat
As of May 13, Russian farmers have seeded 4.1 mln ha of spring wheat. The seeding is catching up with the average pace on warmer weather after late spring which delayed the planting campaign in many regions. Despite the export tax we expect the country to increase the spring wheat area. Here’s why.
Russia’s spring wheat area is to rise this year
Russia’s spring wheat area is expected to rise this year despite export taxes and sluggish campaign start
Black Sea wheat sharply lower on new crop prospects, Russian farmers hope that the tax will be lifted in 2021
Last week, 12.5% wheat prices in deep-sea ports dropped $21 to $253/mt. Traders continued to report extremely low demand, global benchmarks moved lower.
Black Sea wheat prices lower on weak demand and good weather
Russian wheat prices in deep-sea ports dropped $9 to $274/mt (12.5%, FOB) on lack of demand and weaker global benchmarks