Wheat yields seen climbing

Reuters

Singapore

Wheat exports from the Black Sea region, which have climbed nine-fold in the past 20 years, could see further growth in the decade ahead, as the area has potential to boost yields as much as two-and-a-half times, a leading grains brokerage said on Wednesday.

Black Sea wheat exports were one of the biggest challenges faced last year by U.S. producers, weighing on benchmark Chicago futures, which slid this week to their lowest since 2010.

"There is big potential for growth in yields in the Black Sea region over the next 10 to 12 years," Nico de Deugd, chief executive of Vicorus, told Reuters in an interview.

"Russia is producing around 60 million tonnes of wheat with current yields. The output will reach 150 million tonnes if yields rise to the level of the European Union."