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Sovecon raises Russian wheat export forecast

Published by Global Banking & Finance Review

Posted on May 1, 2026

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· Last updated: May 1, 2026

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Sovecon raises Russian wheat export forecast

Sovecon Boosts Russian Wheat Export Forecast as EU Lowers Projections

Global Export Markets Update: Grains, Oilseeds, and Edible Oils

(.)

April 30 (Reuters) - Snapshot of the global export markets for grains, oilseeds and edible oils as reported by government and private sources, as of the end of business on Thursday:

Sovecon Raises Russian Wheat Export View

Agriculture consultancy Sovecon raised its 2025/26 Russian wheat export forecast by 0.9 million metric tons to 47.4 million tons. Sovecon also raised its 2026/27 export forecast for Russian wheat by 1.4 million tons to 45.2 million tons, it said.

EU Wheat Export Forecasts Lowered

The European Commission cut its export forecasts for common wheat, or soft wheat, from the European Union for this season and next, with exports in 2025/26 now seen at 27 million metric tons this season, from 28 million tons projected last month. For 2026/27, the Commission pegged soft wheat exports at 29.65 million tons, below the 30 million tons forecast in its initial outlook a month ago. 

Pending Tenders

Rice Tenders from South Korea

First Rice Tender

South Korea's state-backed Agro-Fisheries & Food Trade Corp. issued an international tender to purchase an estimated 65,394 tons of rice, European traders said. The deadline for submissions of price offers was April 21.

Second Rice Tender

South Korea's state-backed Agro-Fisheries & Food Trade Corp. issued an international tender to purchase about 20,000 tons of rice sourced from the United States and Vietnam, European traders said. The deadline for submissions of price offers in the tender was April 28. Results of the tender may not be known for some weeks after price submissions, traders said. 

Additional Resources

For top agriculture stories, see: [TOP/GRO] 

(Compiled by Julie Ingwersen in Chicago)

Key Takeaways

  • Sovecon lifted Russia’s 2025/26 wheat export forecast by ~1.1 MMT to ~46.5 MMT and its 2026/27 forecast by ~2.1 MMT to ~43.8 MMT, citing firm demand and a weaker ruble (blog.sizov.report)
  • EU’s softer export outlook: European Commission cut its forecast for 2025/26 soft wheat exports to around 29.5 MMT, down from earlier estimates near 31 MMT, amid ample global supplies and heightened competition (graincentral.com)
  • South Korea’s rice purchase interest: The state-backed agency issued tenders—first for ~65,394 tons (due April 21), and another for ~20,000 tons from the US/Vietnam (due April 28)—underscoring demand for premium quality rice (commodity-board.com)

References

Frequently Asked Questions

What tenders for rice were recently announced by South Korea?
South Korea issued international tenders to purchase 65,394 tons and 20,000 tons of rice, with supplies from the US, Vietnam, and other sources.
When were the rice tender submission deadlines for South Korea?
The submission deadlines for South Korea's rice tenders were April 21 and April 28.
Who compiled this snapshot of the global export markets?
Julie Ingwersen in Chicago compiled the market snapshot.

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