Russia’s Sovecon Lowers Wheat Crop Forecast

Russia’s Sovecon agricultural consultancy has reduced its 2024 wheat crop forecast to 80.7 million metric tons, down from the previous estimate of 82.1 million metric tons, due to severe frosts. Earlier in March, the forecast was 94 million metric tons. The harsh spring frosts have significantly affected wheat yield expectations, prompting a more cautious outlook for the year’s production.

source: https://www.xm.com/research/markets/commodities/reuters/russias-sovecon-cuts-2024-wheat-crop-forecast-to-807-mln-tons-53854137