USDA: Russian Wheat Crop Not In Good Shape

The wheat crop in Russia is in even worse shape than USDA projected a month ago. The agency has trimmed another 2.5 million tons from its forecast, which puts the projected crop at 42.5 million tons, down from nearly 62 million last season, Farm Progress reports.

“The big cut this month really has to do with harvest reports we’ve gotten from central growing areas where they were hardest hit by heat and drought this summer,” says USDA grain analyst Jerry Norton. “We’ve not seen any significant improvement in yields as we go through the crop.”

USDA also took 1.5 million tons off its forecast for the European Union. Norton said U.S. wheat stands to benefit from higher-than-expected exports and higher prices on the wheat market. ◆