Russia's wheat prices follow global benchmark

Last week, Russian export wheat prices continued to decline after CBoT wheat futures prices dropped to their weekly low.
Black Sea prices for Russian export wheat with 12.5% ​​protein for delivery in November were at $ 222 / ton fob on Friday. That's $ 1 / ton less than the week before.
In the past week, there were different statements about the export volume of Russia. An employee at the Moscow Ministry of Agriculture lowered the export forecast by 3 to 4 million tons, which was immediately revoked by the Minister. Officially, there is currently an export forecast of 38-39 million tonnes of grain exports, of which 34-35 million tonnes are wheat. The consulting firm SovEcon even regards this estimate as too conservative. The experts there assume 42.6 million tons, of which 34.2 million tons of wheat.
Until November 8, Russia exported 21.5 million tons this season, which began on July 1. An increase of 20% compared to the year before, when 18.2 million tons were delivered abroad. Harvesting and sowing for the next harvest is completed in Russia.
The Ministry of Agriculture estimates the 2018 harvest at 109 millionTons of dried and cleaned grain, of which 69.3 million tons are wheat. In 2017, it was 135.4 million tonnes, including 85.8 million tonnes of wheat.

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