Russian wheat traders face a tough start to the season
Russia’s traders face a tough start of the new export season. Farmers remain slow sellers, the ruble is strong and new crop outlook is deteriorating. July wheat exports are projected at 3.1 MMT, -18% YoY.
Russian wheat crop slashed to 73.7 MMT
SovEcon cut Russian wheat crop estimate from 76.6 MMT to 73.7 MMT after assessing the situation in Center and Volga Valley. The dry weather which we observed in May-June had a significant negative effect on crops in almost all key winter wheat regions.
Russian wheat crop estimate is sharply down on abnormally dry weather in June
Since the second half of May we have been anxiously watching the worsening weather conditions for the formation of new …
Russian wheat prices remain flat despite volatile global benchmarks
In June, Russian export prices were mostly flat. 12.5% FOB remains slightly below $200/mt. On one hand, prices were supported …
Russian FOB wheat prices are on the rise
New crop Russian wheat prices are rising following global benchmarks. As of June 5, 12.5% wheat with July delivery is traded around $197/mt (FOB deep sea ports) which is around 9% higher than a month ago.
Russian wheat crop forecast downgraded on weather
While the market closely watches rains in US, lack of them becoming an issue for the Black Sea. SovEcon downgrades Russian wheat crop.
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 …
2019 wheat production in Russia: outlook remains optimistic on ample rains and fast planting
The weather remains favorable for the new Russian wheat crop. In recent weeks almost all key regions received 100-150% of normal rains boosting the moisture reserves during the important period of the season.
Bumper Black Sea wheat crop ahead as local farmers describe the weather as “almost ideal”?
Wheat planted in Russia at a record pace and the weather is good. Will country harvest another bumper crop in 2019?
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.