USDA raises Russian ‘17–18 wheat exports forecast to 33 mln tns

MOSCOW, Nov 10 (PRIME) -- The U.S. Department of Agriculture has improved the Russian 2017–2018 wheat export forecast to 33 million tonnes from 32.5 million tonnes thanks to good export dynamics, high world demand and competitiveness of the commodity, for the transportation of which Russian Railways offers a discount, it said in a statement late on Thursday.

The USDA also improved the estimate for Russia’s 2017 wheat harvest by 1 million tonnes to 83 million tonnes.

The 2017-2018 the agricultural year runs from July 1, 2017 through June 30, 2018.

Russia’s Agriculture ministry expects the grain harvest to amount to 130 million tonnes in net weight in 2017 and grain exports to reach 45 million tonnes, including 30 million tonnes of wheat.

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