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Russian wheat exports up 1.9% on year

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Russian wheat exports in the 2016-17 marketing year from July 1 to December 14 were up 1.9% year on year at 14.317 million mt, Ministry of Agriculture data showed last week.

Wheat exports from Russia have been slower than expected in 2016-17 because farmers have been slow to let go of their stocks on the domestic market due to low prices. However, this year’s projected exports are 3.46 million million tons higher than last year’s.

Russian exporters have now also shipped 2,051 million mt of corn in the current marketing year, 32.2% higher than last year. Barley exports are at 1.797 million mt, reduced by 37.2% from the same point last year.