"Current balances of wheat at the beginning of April, a record high. However, the important dynamics of their changes relative to last season. If on 01 Feb 2018 residues of wheat was at 5.29 million tons higher than last year, on March 1, is 4.6 million tons, and April 1 – 3.32 million tons. That is, the reduction in balances compared to last season has accelerated markedly and in March it amounted to almost 1.3 million tons," - said in the analytical centre "Sovekon".

The rest of the season for another three months. If the balances will decline each month on 1 million tons more than last season, the current excess of 3.3 million tons can practically come to naught. According to the forecast "Sovekon" in the new season Russian wheat market can go about with the same residues as in the past season, and given more resources to low yield of wheat may be somewhat lower and not so pressing for the domestic market as in the 2016/17 season, especially in the first months of last season.

Photo: agrotrade-ag.com