US cuts Russia’s 2019–2020 wheat export forecast to 33.5 mln tns

MOSCOW, Apr 10 (PRIME) -- The U.S. Agriculture Department has reduced its forecast for Russia’s wheat exports to 33.5 million tonnes from 35 million tonnes for the 2019–2020 triggered by a weak exports rate and Russia’s export quota on some grains introduced until the end of June, as seen by PRIME in the authority’s April market overview late on Thursday.

The forecast was made for the agricultural year, which runs from July 1, 2019 through June 30, 2020.

At the same time, the USDA improved its expectations of wheat exports from the E.U. to 33.5 million tonnes from 32 million tonnes due to a good rate of current exports and lower competition with the Russian grain.

On April 2, the Russian government set an export quota of 7 million tonnes on exports of wheat, rye, meslin, barley, and corn from March 31 until June 30, and the quota covers exports of the grains from the country to the countries outside the Eurasian Economic Union – the union of Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan.

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