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Russian wheat exports up 11.3% on year at 5 mil mt

Russian wheat exports up 11.3% on year at 5 mil mt

MOSCOW: Russian wheat exports in the 2017-18 marketing year from July 1 to August 30 were up 11.3% year on year at 5 million mt, Ministry of Agriculture data showed Monday. Wheat exports from Russia are outpacing last marketing year’s exports due to a bumper harvest expected this year, which the US Department of Agriculture in August forecast at 77.50 million mt, 5.5 million higher year on year. However, Russian analysts are estimating this year’s wheat harvest at 83 million mt, which would make it the highest harvest on record.

Russian exporters have now also shipped 502,000 mt of corn in the current marketing year, more than 11 times higher year on year. Barley exports total 1.366 million mt to date, 70% higher year on year.