In July, experts from Sovecon increased their forecast for grain production in Russia this year by 3.1 million tons compared to the previous month's estimate, bringing the total to 130.5 million tons. The revision was made due to improved prospects for winter and spring crops.
"The wheat production forecast was further increased by 0.1 million tons, reaching 84.2 million tons. Overall, the forecast was raised by 3.5 million tons in July due to favorable weather for spring wheat in Siberia and the Urals and relatively high yields of winter wheat in the south," the report stated.
The forecast for Russian barley production was raised by 0.7 million tons to 19.3 million tons, owing to relatively high yields of winter barley in the south and favorable weather conditions in the Volga region.
At the same time, the corn harvest forecast was lowered by 1.2 million tons to 13.4 million tons due to dry and hot weather in southern Russia.
"Major weather models predict that unfavorable weather will persist in the near future, increasing the likelihood of further downward revisions to the forecast," the experts emphasized.
