Grain Report Wednesday- 16th July
- Clear Grain Exchange
- Jul 16
- 1 min read
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Although internation futures prices remain subdued there were a few better signs with indications that the southern Russian harvest is disappointing and Algeria going to the market and paying nearly $10/t higher than in its previous tender.
Russia's IKAR consultancy cut its 2025 wheat production forecast to 84mt from 84.5mt previously, the revision is mostly associated with lower yields in the south of Russia. Rostov, Russia's top wheat producing region in 2024, may see lowest wheat harvest since 2015 due to severe drought, with the local governor predicting that this year's crop will be 20% lower than last year's 10.1mt. Judging by early harvest Russian price activity and slow export pace this could be significant, although international values have barely budged.
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