USDA Upgrades Russian and Australian Wheat Exports

Grain

The US Department of Agriculture (USDA) revised its forecast for Russian and Australian wheat exports in the 2020/21 (Jul-Jun) market year up by 1.0 Mt and 2.0 Mt to 36.0 Mt and 16.0 Mt, respectively. Meanwhile, projections for EU and Ukrainian exports were lowered to 28.0 Mt and 17.5 Mt, down by 0.5 Mt and 1.5 Mt from the previous month’s report.