Grain harvest in Kazakhstan is almost over: it was 99.8% complete as of October 30, reports UkrAgroConsult.
Drought was seen everywhere throughout the growing season: high air temperatures and long rain-free periods had an adverse impact on crop condition. The harvest time, on the contrary, witnessed rain in key growing regions that slowed down harvest progress and deteriorated the grain crop quality.
The harsh weather conditions affected the crop quantity as well: it is the lowest in seven years.
Moreover, the situation was aggravated by low opening stocks, which totaled just 1.2 MMT.
The above factors will cause Kazakh wheat supply in the world market to plummet. According to preliminary estimates, the country may ship abroad 30% less wheat compared to a year ago.
We do not rule out that this year Kazakhstan will not only reduce milling wheat exports, but will also be forced to begin importing high quality wheat to meet domestic demand. Most likely, the purchases will be made mostly in the 2020 calendar year, after own stocks in the country start exhausting.