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Russia's IKAR ups its forecast for Russia's 2020 wheat crop

Reuters, 27.07.20

MOSCOW, July 27 (Reuters) - IKAR, one of the leading agriculture consultancies in Moscow, said on Monday that it had raised its forecast for Russia's 2020 wheat crop to 78 million tonnes from the previously expected 76.5 million tonnes due to high yields in some regions.

Russia, the world's second-largest wheat exporter after the European Union, is harvesting its crop after dry weather in its south, where the main grain producing and exporting regions are located. However, yields are improving in the central regions.

SovEcon, another consultancy in Moscow, also said on Monday that it could slightly update its forecast for Russia's 2020 wheat crop from the current 79.7 million tonnes this week following a revision of wheat sowing area.

Russia's agriculture ministry currently sees the 2020 wheat crop at 75 million tonnes. The country harvested 74.5 million tonnes of wheat in 2019.

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