The Russian Grain Union predicts a 2023/24 grain production in Russia of 130-140 million tons with exports of 55 million tons. A decrease in the average yield of wheat by about 0.1 ton/hectare is noted.
Refinitiv Commodities Research lowered its forecast for the 2023/24 corn production in the United States by 11 million tons to 364 million tons (348.8 in 2022/23).
According to the forecast of the Ministry of Agriculture of Bulgaria, the wheat production in the country is expected to reach 6 million tons in 2023/24 with areas of 1,194 million hectares.
MARS forecasts that the wheat production in Russia for 2023 will reach 86.7 million tons (compared to 103.9 million tons in 2022). Barley production is projected at 20.4 million tons (22.9), and corn production is estimated at 15.2 million tons (15.1).
The Romanian government is considering measures that would give local farmers preferential access to the port of Constanta, which would make it more difficult to export Ukrainian production.
SovEcon lowered its forecast for the 2023/24 grain production in Russia by 2.3 million tons to 134 million tons, including wheat production of 86.8 million tons (88), barley production of 19.9 million tons (20.8) and corn production of 14.6 million tons (14.8).
