US raises Russia’s 2019–2020 wheat export forecast to 35 mln tns

MOSCOW, Mar 11 (PRIME) -- The U.S. Agriculture Department has raised its forecast for Russia’s wheat exports to 35 million tonnes from 34 million tonnes for the 2019–2020 agricultural year, which runs from July 1, 2019 through June 30, 2020, as seen by PRIME in the authority’s March market overview late on Tuesday.

The wheat harvest forecast was also raised to 73.61 million tonnes from 73.5 million tonnes. The transitory grain reserves will fall to 7.404 million tonnes at the end of June -- the estimate was cut from 8.294 million tonnes -- from 7.819 million tonnes at the end of June 2019.

Russia’s Agriculture Ministry said that it expects grain exports in 2019–2020 at 45 million tonnes, including 36 million tonnes of wheat.

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