Russian wheat exports in marketing year to June 20 up 48.4% at 39.48 mil mt


Russian wheat exports in the 2017-18 (July-June) marketing year to June 20 were 48.4% higher on the year at 39.48 million mt, agriculture ministry data showed Monday.

The pace of exports slowed in last week by 17% from the previous week, amounting to 425,000 mt. The first harvest of the new crop has barely started in the southern regions of Russia and Ukraine, so exports are mainly based on the old crop, which has become limited. The harvest should accelerate this week.

Around 40.5 million mt of wheat was forecast to be exported by the end of the campaign, up from 27.8 million mt last year, according to the US Department of agriculture's WASDE report, which would be a global record for a marketing year.

Offers for FOB 12.5% protein wheat loading in July on a Handysize vessel stood at $198/mt Friday, according to sources, while bids were reported at $197/mt. The market was assessed at $197.25/mt Friday, a three-month low as a result of harvest pressure and weak buying interest.

Russian exporters also shipped 5.63 million mt of corn in the current marketing year to June 20, up 13.3% on the year, while the pace of exports slowed and the volume fell 21% week on week to 153,000 mt.

Barley exports in the period totaled 5.72 million mt, double year on year, while i the latest week they fell 26% week on week to 80,000 mt.

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