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“SovEcon raised its Russian wheat export forecast by 400,000 MT to 43.3 MMT for this marketing year. Last year, they did 40.8 MMT,” Prater said. “Russian wheat production is estimated at 83.6 MMT. July rains have improved yield outlooks for the Australian wheat crop. Some crop estimates have risen 2-3 MMT since June. Some reports have the crop size at over 33 MMT.”
“Russia media reports farmers have so far harvested 50 mmt. of grain,” Soderberg said. “Export sales Thursday are expected to range from 12-25 mln. bu.”
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