For the time being analysts are not in a hurry to raise their forecasts for Russian grain export

10 May, 2017
For the time being analysts are not in a hurry to raise their forecasts for Russian grain export
For the time being analysts are not in a hurry to raise their forecasts for Russian grain export despite abrogated import duties on behalf of Turkey.

Some even plan to continue downsizing.

According to IKAR forecast, the results of April's wheat export are not in line with the forecasts, and for that to happen, forecasts have to be lowered further. During the month, wheat export reached 1,975 mln. tonnes. In order an export 27.5 million tonnes of wheat for the year to be reached,  in April 2.1 mln. tonnes of wheat had to be exported from Russia. The new forecast for wheat export from Russia is 27.1 - 27.2 mln. tonnes, and for the total grain export 36.0 mln.tonnes given the previous forecast of 36.6 mln. tonnes.

Until the end of the season from Russia to Turkey will be exported 300 000 tonnes of wheat and 150 000 tonnes of corn. If no restrictions were imposed on behalf of Turkey, these volumes would have reached 700,000 tonnes of wheat and 300,000 tonnes of corn.

ProZerno lowered their forecast for grain export from Russia to 36.33 mln. tonnes (36.41). Export of wheat and barley remains unchanged from 27.2 mln. tonnes and 2.88 mln. tonnes. Only the forecast for corn export is lowered, down to 5.11 mln. tonnes (5.3). Until the end of the season 0.5 - 0.7 mln. tonnes of wheat will be exported to Turkey.

According to Russagrotrans, 500,000 - 700,000 tonnes of wheat will be delivered until the end of the season from Russia to Turkey. For the season, export from Russia will reach 35.2 - 35.4 mln. tonnes (34.7).