Russia may become world’s biggest wheat exporter

Wheat exports from Russia are expected to outpace the European Union this year, according to the US Department of Agriculture (USDA), which projects that Russia will become the world's top exporter for the first time.

Russia’s exports are expected to grow by 4.5 million tons for 2016/17 to a record 30 million tons thanks to a sharp production increase, the report says.

The wheat crop rose by 7 million tons to a record 72 million amid excellent growing conditions across the country, as well as harvest reports showing very high yields.

According to USDA statistics, EU exports this year will decrease by 7 million tons to 27 million from July through August due to a significant drop in French crops following a season of excessive rain.

US wheat exports are expected to rise by 700,000 tons to 25.5 million tons on projections of improved competitive conditions due to a sharp reduction in the EU which will benefit suppliers from North America, RT cited the report as saying.