The central bank has already raised its economic growth projection from earlier forecasts based on a predicted cereals harvest of 9.5 million tonnes, well up from 3.2 million tonnes last year.
"Cereals output is expected to exceed 10 million tonnes this season, which means less imports," he said.
Soft wheat exports to destinations outside the EU-27 and Britain totalled 937,700 tonnes in March, the ninth month of the 2020/21 season, an initial estimate based on Refinitiv loading data showed.
Morocco was the leading destination, accounting for 348,400 tonnes, nearly three times the volume shipped there in February.
Good soil moisture that is boosting crop prospects in key growing areas pressures wheat futures.
On a continuous basis, the most-active CBOT soft red winter wheat contract hit a three-month low overnight and was on track for a weekly drop of 2.6%, which would be its biggest since early February.
In grain supply and demand data, the Commission also projected that EU exports of common wheat, or soft wheat, would reach 30.0 million tonnes next season compared with 27.0 million expected in the current 2020/21 season that ends on June 30.
"Crop conditions have improved dramatically in (Russia's) south thanks to mild winter and ample precipitation in recent weeks," Sovecon said in a note.
Sovecon added that it had reduced its estimate for Russia's winter grain sowings lost after winter to 9.9% from 16%.
The feed wheat was purchased in two 65,000 tonne consignments at an estimated $282.86 a tonne c&f for arrival in South Korea around Aug. 24 and at $275.14 a tonne c&f for arrival in South Korea around Sept. 24.
If the August arrival consignment is sourced from the US Pacific Northwest coast, Australia or Canada, shipment is sought between July 21 and Aug. 9.