Commodities Buzz: Russia Wheat Exports Rise 48 percent In 2017/18

As per the latest data by Agriculture Ministry, 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.

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.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.