This forecast has been revised up by 8.2% compared to previous estimates from February and is 5.1% higher than last season.
The main factors contributing to this revision are the high level of exports in the region and a somewhat improved harvest.
It is important to note that in the methodology of the U.S. Department of Agriculture, exports and harvests are considered within the framework of the marketing year, which differs from the calendar year. This period signifies the time when the harvested crop is sold.
The marketing year, which lasts for 12 months, is defined individually for each exporting country as well as for each agricultural crop.
In the case of wheat from Kazakhstan, the marketing year covers the period from September of the current year to August of the following year.
