London — Russian wheat exports since 2017-18 marketing year started on July 1 were 40.5% higher year on year at 28.397 million mt, data from the ministry of agriculture showed Monday. Receive daily email alerts, subscriber notes & personalize your experience. Around 38 million mt of wheat was expected to be exported by the end of the campaign, according to sources, a record for a marketing year. Wheat line-ups each month remained fully booked, sources said. Prices for 12.5% protein wheat on an FOB basis reached a 34-month high of $209/mt recently on tight prompt supply and high replacement costs. Prices were said to have peaked, according to sources, as improving weather should facilitate slicker transhipment from central regions to the south of Russia. Russian exporters have also shipped 3.561 million mt of corn in the current marketing year, down 1.1% year on year on delayed loadings and forecasts of a smaller crop, although up 0.4 percentage point in the past two weeks as buyers seek alternatives to expensive barley imports. Barley exports totaled 4.158 million mt, up 90% year on year but only a touch higher in the past two weeks on tight supply. --James Colquhoun, james.colquhoun@spglobal.com--Edited by Dan Lalor, daniel.lalor@spglobal.com
Russia, the largest exporter of wheat, has seen a 40.5% rise in wheat exports in the 2017-18 marketing year so far, with 28.4 million mt exported since the start of the campaign on 1 July. The Russian government is also planning to increase its export capacity by exporting more than 100 000 tonnes of grain from Russia and Ukraine this year.