21.
11.16
15:28

Wheat: Doubts about Russia's export forecasts

Given the previous history of wheat exports, doubts arise that Russia reached his even set export target in this fiscal year. To promote the record harvest 2016 without additional overhangs, Russia need to export five million tons of wheat more than in the previous year. The SovEcon consultancy went out for 2016/17 of 39 million tonnes of wheat exports so far. A higher selling pressure could put the prices at the local Russian market under pressure.
In November, exports are expected of 3.5 million tons, which 2.6 2.7 million tons would be wheat. So are the July-November exports significantly lower than those of the same period in the previous year. In September, the grain export from Russia dropped to 2.9 million tonnes of 4.5 million tons in September 2015. It was founded with the stormy weather in the ports of loading.
In the result, inventories on farms in the Volgograd region were 28% higher than in the previous year on November 1. In the Rostov region and Stavropol - inventories on farms to 19 and 17% were higher than a year ago. Only in the Krasnodar region were the stocks on previous year's level.
To the South is still a bigger part of exportable wheat, the demand is weak in the regions further away from the ports. In the local market, the prices were continuously but anger stairs, because farmers hold back their grain with better quality.

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