High wheat stocks to support Russian wheat exports in 2026/27 – forecast
SovEcon raised Russia’s 2026/27 wheat export forecast to 46.5 million tonnes, citing high opening stocks despite a smaller harvest. Total grain exports are projected at 56.1 million tonnes, while the 2025/26 export estimate was slightly lowered to 57.9 million tonnes.
Analysts at SovEcon raised their forecast for Russian wheat exports in the 2026/27 MY by 0.2 million tons from the previous estimate, to 46.5 million tons.
The upward revision was mainly driven by high opening wheat stocks, which are expected to partly offset a smaller harvest.
“The start of the season may be relatively slow, however. Key importers have little need to replenish stocks urgently while their own harvests are underway, and high stocks in Ukraine are increasing overall Black Sea supplies,” the company’s head, Andrey Sizov, said.
SovEcon also raised its forecast for Russia’s total grain exports in the current season to 56.1 million tons from 55.7 million tons previously. Barley exports are projected at 3.4 million tons in the 2026/27 MY, while corn exports are also forecast at 3.4 million tons.
At the same time, the consultancy slightly lowered its estimate for grain exports in the season that has just ended by 0.1 million tons, to 57.9 million tons. Wheat exports are now estimated at 46.2 million tons, compared with the June estimate of 46.8 million tons, while barley exports are seen at 4.9 million tons and corn exports at 4.5 million tons.
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Source : APK Inform
