MOSCOW: Russian wheat exports from July 1 to June 7 in the 2016-17 marketing year were up 8.7% year on year to 25.995 million mt, ministry of agriculture data showed. Russian exporters have shipped 4.844 million mt of corn in the current marketing year, 5.4% higher year on year. Barley exports were down 33.95% at 2.786 million mt. Overall, Russia has exported 33.879 million mt of grains, 2.5% higher.
According to the USDA’s latest World Agriculture Supply and Demand Estimates Report, projected exports are 27.50 million mt for the full year, 0.5 million mt lower than the previous report. Market sources said a lack of old crop availability could weigh on exports for the rest of June. The supply shortage was reflected in the prices offered for H2 July. On June 1, old crop offers for Russian 12.5% protein wheat for H2 July loading were heard at $179/mt. Offers Monday have been heard at $185/mt for certain positions in H2 July. The USDA continued to project Russian wheat exports for the 2017-18 campaign at 29 million mt, up 3.6% on the forecast for 2016-17.
