IKAR lowered its forecast for the grain production in Russia for 2024/25 from 146 million tons to 142 million tons, including wheat production of 91 million tons (previously 93).
According to USDA data as of 28.04.2024, in the USA, corn has been planted on 27% of the planned areas /23% last year and 22% on average for the last five years/.
According to SovEcon's estimate for April, Russia is expected to export a record 4.6 million tons of wheat, compared to 4.4 million tons in April 2023 and an average of 2.9 million tons in previous years.
According to the FAS USDA forecast for 2024/25, wheat production in Pakistan will reach a record 28.8 million tons /28.2 in 2023/24 and 26.2 in 2022/23/.
SovEcon has lowered their forecast for the wheat production in Russia for 2024/25 by 1 million tons to 93 million tons, marking the first reduction for the season.
