IKAR raises its forecast for the wheat production in Russia for 2024/25 by 0.5 million tons to 82 million tons. The total grain production is projected at 129.5 million tons.
SovEcon forecasts that Russia's grain production in 2024/25 will be 127.4 million tons (144.9 in 2023/24), including wheat production of 80.7 million tons (-13%), barley production of 18.6 million tons (-12%), and corn production of 14.6 million tons (-12%).
According to the latest forecast by FAS USDA, the wheat production in Bulgaria in 2024/25 will reach a record 6.9 million tons, which will be achieved with smaller areas, a reduction of 4% compared to 2023/24, and higher yields.
SovEcon estimates Russia's wheat exports in June at 3.5-4 million tons (3.6 million tons in June 2023 and only 1.6 million tons on average for this month in previous years).
In 2024, Russia's sunseed production is projected to reach 15.8 million tons (compared to 17.25 million in 2023). Soybean production will reach 7.2 million tons (6.824 million), and rapeseed production is forecasted at 4.3 million tons (4.203 million).
The government of Turkey is banning wheat imports into the country from June 21 to October 15, 2024. This measure is due to the significant domestic reserves, which have reached 9 million tons.
