Leading Russian agricultural agencies have sharply revised down their forecast for the country's wheat output in marketing year 2021-22 (July-June), driving up wheat prices and indicating tight global supplies could be in the offing.
The prevailing dry and hot weather conditions across top producing countries are limiting the production prospects for spring wheat, raising concerns of tightening global supplies for the high protein-content wheat.
Australian wheat prices are expected to continue their bullish trend for the next 2-3 months on weaker competition from other major producers and rising demand from Asia, the world's largest wheat-buying region, sources said.
New Delhi — The Russian ministry of agriculture Tuesday brought out a draft order to impose a temporary restriction on grain exports of 20 million mt from January to June to safeguard the domestic market. Analysts do not think the move, if ...