Russian wheat exports in April 2019 and outlook for 2019/20
2018/19 Russian wheat export campaign is almost over, exports are estimated at 34.9 mln t 2019/20 Exports are estimated at …
Russian FOB wheat prices were declining in April
Russian FOB wheat prices were declining in April. As of the end of the month, 12.5% wheat with the nearest delivery is traded around $218-219/mt. This is 3.5% lower than at the beginning of the month.
Russian wheat exports slow down
Russian wheat exports continue to slow down. In March 2019 the country exported 1.9 mmt of wheat (-16% MoM; -52% YoY).
Russian wheat FOB prices stabilize after a sharp sell-off
At the beginning of April, Russian wheat prices stabilize after a sharp sell-off in March. As of April 8, prices for 12.5% protein wheat (FOB deep sea ports) stood at $226/t.
Top 3 destinations for Russian wheat in February 2019
In February Russia exported 2.2 mmt of wheat compared to 2.4 mmt in January and 3.3 mmt a year ago. Amid lower export volumes Russia rely more on traditional buyers.