# Estimates predict 50% larger wheat crop in 2021 - McCreath Simpson & Prentice

> The latest USDA report raised 2020 global wheat production by 1.28 million tonnes to 773.66 million, while Chinese wheat imports were raised to 8.5 million tonnes. Russia has confirmed export tariffs of €25 per tonne for the 15 February to 30 June period, after earlier setting export quotas of 17.5 million tonnes. The tariffs are intended to contain domestic prices as the rouble weakens.

- Date: 2020-12-24 · published 2020-12-24T12:00:00.000Z
- Category: policy · region Russia · magnitude medium
- Page: https://feedsoft.ai/events/49593-estimates-predict-50-larger-wheat-crop-in-2021-mccreath-simpson-and-prentice
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Russian export tariffs make its wheat less competitive on world markets, reducing export flow and supporting prices outside Russia. Higher Chinese import demand adds further support.

## Read by commodity

- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-05-16 | [India bans wheat exports as heat wave hurts crop, domestic prices soar \| Reuters](https://feedsoft.ai/events/41364-india-bans-wheat-exports-as-heat-wave-hurts-crop-domestic-prices-soar-reuters.md) | +4.0% | -0.3% |
| WHEAT | 2024-02-20 | [India: Wheat stocks to drop to 16-year low, Centre asks states to prepare for early procurement](https://feedsoft.ai/events/31611-india-wheat-stocks-to-drop-to-16-year-low-centre-asks-states-to-prepare-for.md) | -3.5% | -4.2% |
| WHEAT | 2023-06-12 | [India imposes wheat stock limit to arrest price rise](https://feedsoft.ai/events/35453-india-imposes-wheat-stock-limit-to-arrest-price-rise.md) | +1.1% | +0.2% |
| WHEAT | 2021-12-30 | [Black Sea wheat prices on uptrend in 2022, mixed outlook for Russian exports 30.12.2021 - UkrAgroConsult](https://feedsoft.ai/events/14525-black-sea-wheat-prices-on-uptrend-in-2022-mixed-outlook-for-russian-exports-30.md) | -0.7% | +9.2% |
| WHEAT | 2024-03-01 | [Urea prices skyrocket as gas subsidies vanish, wheat crop at risk](https://feedsoft.ai/events/6431-urea-prices-skyrocket-as-gas-subsidies-vanish-wheat-crop-at-risk.md) | +6.4% | +0.6% |

## Sources

- mspagriculture.co.uk: https://mspagriculture.co.uk/insight/2020/december/estimates-predict-50-larger-wheat-crop-in-2021/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.