Dry weather adds to risks for Russia’s grain crop

Dry spring weather with little rain expected in the next two weeks is starting to raise concerns about this year’s grain harvest among Russian farmers and analysts.

Russia, the world’s largest wheat exporter, is still expected to harvest a larger crop in 2020 than a year ago as farmers sowed a bigger area with winter grains, and their sowings remain in a healthy state after a mild winter.

However, the lack of rain in the main grain exporting southern regions is starting to support Russian wheat prices, Dmitry Rylko at IKAR agriculture consultancy said, adding that rains were “badly needed” after a dry March.

SovEcon, another consultancy said the weather remained unfavorable for the new crop.

“The crops are still in good shape but ample precipitation will be needed in the next few weeks, especially in Russia’s south,” it said.

Financial Post