MOSCOW: Russian wheat exports in the 2016-17 marketing year to April 12 were up 5.6% year on year to 22.631 million mt, ministry of agriculture data showed. Wheat exports from Russia have been slower than expected in the 2016-17 marketing year, which began last July 1, as farmers have been slow to let go of stocks in the domestic market due to low prices, sources say. However, increased commitments in March and April have meant the current marketing year Russian exports have surpassed the previous year’s volume.
According to the latest World Agricultural Supply and Demand Estimates report from the US Department of Agriculture, Russian exports were expected to total 28.0 million mt in the 2016-17 marketing year, 21.7% higher than 2015-16. Exporters have also shipped 4.084 million mt of corn in the current marketing year, 8.0% higher year on year, the data showed. Barley exports were down 40.3% to 2.364 million mt.
