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Russia's IKAR cuts 2019/20 wheat export forecast

Reuters, 20.06.19

MOSCOW, June 20 (Reuters) - IKAR, one of the leading agriculture consultancies in Moscow, said on Thursday that it had downgraded its forecast for Russia's wheat exports in the new 2019/20 marketing season which starts on July 1 by 500,000 tonnes to 36.5 million tonnes.

? Its forecast for Russia's 2019 wheat crop was cut by 500,000 tonnes to 80 million tonnes due to dry weather in Russia's southern region, the eastern part of the central Black Soil region and in part of the Volga region;

? IKAR added that it downgraded its estimate of 2019 grain crop to 124.7 million tonnes from 126.2 million tonnes;

? Its forecast for 2019/20 grain exports was cut to 46 million tonnes from 47.4 million tonnes.

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