International Grains Council raises Russia's wheat export forecast for new season by 0.8 mln tonnes to 43.3 mln tonnes

MOSCOW. May 23 (Interfax) - The International Grains Council (IGC) in its May review has increased its forecast for Russian grain production and exports in the new agricultural year (July 2025-June 2026).

According to the review, wheat exports will reach 43.3 million tonnes, 0.8 million tonnes higher than the April forecast of 42.5 million tonnes. The forecast for the current agricultural year (July 2024-June 2025) stands at 42.7 million tonnes.

The wheat harvest estimate for the new agricultural year has been raised to 81.7 million tonnes from 80.6 million tonnes in April.

Total grain exports will amount to 52.6 million tonnes. This is higher than the April forecast of 51.8 million tonnes.

The wheat export forecast for Russia's closest competitor, the EU, in the new agricultural year has been increased from 31.4 million tonnes to 32 million tonnes, with total grain exports raised from 44.8 million tonnes to 45.3 million tonnes. The forecast for the current agricultural year is 27.1 million and 39.6 million tonnes, respectively.

According to IGC data, global grain production in the new agricultural year will reach 2.375 billion tonnes (2.373 billion tonnes in the April forecast), including 805.6 million tonnes of wheat (806.4 million tonnes).