Russia’s Ministry of Agriculture forecasts record wheat exports of up to 30 million tonnes in the ongoing 2014/15 marketing year, said the Itar-Tass news agency. Deputy Minister Andrei Volkov said shipments would be in the range of 27.5-30 million tonnes. The record for exports is 27.02 million tonnes in 2011/12. The Russian estimate is well above USDA’s forecast of 22.5 million tonnes.
USDA’s World Agricultural Production report estimates a bumper wheat crop in Russia – 59 million tonnes, up 13 percent from last year due to slightly large plantings and a record yield of 2.48 tonnes per hectare, 18 percent above normal. World wheat production is forecast for a record 761 million tonnes this year, including a record crop in China of 126 million tonnes.