Russia: Stable export prices after 5-week rally

Russian export wheat prices of 12.5% ​​protein were relatively stable last week after rising for five consecutive weeks.
Wheat exports for delivery at the end of October cost $ 231 / ton fob. That's $ 1 / ton less than the week before.
The market participants had feared in the weeks before that there are export restrictions, which have not yet been confirmed. However, the quality controls in the loading silos were reinforced, which the affected companies perceive as annoying. It takes longer now to get the phytosanitary certificates.
By October 18, Russian grain exporters had exported 17.7 million tons of grain after the last harvest. This was 21% more than at that date a year ago and included 15.2 million tonnes of wheat.
Harvesting in Russia is now complete, as well as sowing for the 2019 harvest. 99% of the planned land was ordered. That's 17 million hectares. In the coming weeks, rain is expected in the European part of Russia, which favors the growing conditions for the next harvest.

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