Russia: wheat prices declining

Export prices for the new crop of wheat of Russian origin fell last week due to declining prices on the leading exchange in Chicago. In addition, after the dry April, wheat stocks in Russia, Ukraine and Kazakhstan benefited from the rainfall in May. Export wheat from Russia with 12.5% protein loaded at Black Sea ports was between $ 195 and $ 197 / ton FOB based at the end of last week. The previous week it was $ 198- $ 200. Analyst Ikar reports wheat for the new crop for delivery in July / August at $ 195 / tonne (- $ 1). The U.S. Department of Agriculture expects Russia to remain the world's largest wheat exporter in the 2020/21 season.
In the current marketing year 2019/20, Russia exported 35.3 million tons of grain until May 14. This is a decrease of 12% compared to the previous year. Wheat exports reached a volume of 30.2 million tons. In May, Russia exported an estimated 2.0 million tons of grain (wheat, barley and corn). April exports still reached a volume of 3.7 million tons.