US worsens Russian 2016–2017 wheat export outlook to 28.5 mln tns

MOSCOW, Feb 10 (PRIME) -- The U.S. Department of Agriculture has worsened a forecast for wheat exports from Russia in the 2016–2017 agricultural year to 28.5 million tonnes from 29 million tonnes due to slower dynamics of exports, the authority said in a report on Friday.

The authority also retained a forecast for Russia’s wheat harvest at 72.5 million tonnes in the year, which runs from July 1, 2016 through June 30, 2017, which is an 18.8% increase compared with the 2015–2016 agricultural year.

The world wheat harvest may amount to 748.238 million tonnes this agricultural year, down from the previously expected 752.69 million tonnes, the authority said.

Russia’s Agriculture Ministry expects the country’s wheat exports at 37.5 million tonnes.

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