IGC maintains forecast for Russian wheat exports at 47.7 mln tonnes in 2026-2027 agro season

MOSCOW. July 23 (Interfax) - The International Grains Council (IGC) in its July overview has maintained the June forecast for Russian wheat exports in the 2026-2027 crop year from July to June at 47.7 million tonnes, and the IGC has raised the estimate for overall grain exports to 54.9 million tonnes from 54.2 million tonnes.

The forecast for wheat exports from the European Union, one of Russia's main competitors on the global market, has remained at the June outlook of 31.8 million tonnes. The IGC has downgraded the forecast for overall grain exports from the European Union to 43.3 million tonnes from 43.5 million tonnes the previous month.

The IGC has upgraded the July forecast for Russia's wheat harvest to 89.9 million tonnes this season from 89 million tonnes in the June estimate, and the IGC has moderately improved the outlook for the overall grain harvest to 127.9 million tonnes from 127.1 million tonnes in the previous forecast.

The IGC has upgraded the forecast for the global wheat harvest to 821 million tonnes this year from 820.9 million tonnes in the June estimate, projecting the overall grain harvest at nearly 2.422 billion tonnes versus nearly 2.427 billion tonnes previously.