Sovecon lowered its forecast for the wheat harvest in Russia in 2023 by 0.5 million tons
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An analytical center specializing in the analysis of agricultural markets, Sovecon, lowered the forecast for the wheat harvest in Russia in 2023 from 92.1 million tons to 91.6 million tons. At the same time, Sovecon increased the forecast for the grain and legume harvest in the Russian Federation for the current year from 142.2 million tons to 142.9 million tons, Reuters reports.
Currently, the pace of decline in grain prices in Russia is accelerating, as calculated by the analytical center. According to Sovecon, for the period from September 11 to 17, wheat prices fell on average by 250–425 rubles, to 12.4–13.5 thousand rubles. for 1 ton. According to Rusagrotrans analysts, published by the Pole.RF resource, prices for 3rd class wheat on average per week in the south decreased by 900 rubles, to 12.88 thousand rubles. for 1 ton, on the 4th – by 690 rubles, up to 12.26 thousand rubles. for 1 t.
Sovecon believes that wheat prices are falling due to weak demand from exporters and local consumers. Analysts cite market participants who say it is difficult to obtain railcars, and some exporters say they have accumulated inventories sufficient to supply them for several months.
More details in the material “The ears reach for the ground”.
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