Russian Wheat Exports to Rise

Grain

In its latest grain markets report, the US Department of Agriculture (USDA) revised up its forecast for Russian wheat exports in the 2019-20 trade year (Jul-Jun) by 1.0 Mt to 35.0 Mt, citing competitive pricing and strong demand from Turkey, where the import forecast was lifted by 2.0 Mt to 10.5 Mt as the government allowed additional duty-free wheat imports.

Argentine wheat exports are forecast higher at 13.5 Mt, while anticipated shipments from Canada and Australia were down graded to 23.0 Mt and 8.2 Mt, respectively.