Russia. Huge wheat exports resulted in stocks exhausting by 25% against last year


Farmers have already harvested almost all wheat and barley. The corn harvest is 89% complete with 10.5 MMT of grain combined to date (wet weight). If the harvest is finished in time, corn production in Russia may still amount to 11 MMT.

UkrAgroConsult sticks to its previous forecasts for Russia’s grain output.

Russian farmers planted 2.4% (0.4 Ml ha) more winter crops than projected. The planted area is already 0.5 Ml ha larger than last year. Noteworthy is that, as a rule, the final figures for plantings are higher than real-time ones, reports UkrAgroConsult.

In the opinion of UkrAgroConsult, Russian growers will continue expanding their plantings of winter wheat at the expense of spring wheat. This will make it possible to further increase wheat yield in the country and maintain production of this commodity at a high level.

According to the Russian statistics authority, farmers’ stocks of wheat amounted to 16.5 MMT as of November 1 that was down 25% on the year. The stocks are appreciably lower than last season in all the key regions across the Central, Central Black Soil, Volga and Northern Caucasus districts.

Taking into account exhaustion of wheat stocks in the south of the country, delivering this commodity from more distant regions requires additional time and costs.

Weather began affecting the pace of sales. Snow and frost came to the Black Sea region last week. In particular, snow fell in the Southern federal district of Russia earlier than usual, and it may affect the pace of shipments.

More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Grain" by UkrAgroConsult.

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