Volga Baikal AGRO News Update on the Russian Wheat Market !!!

The Russian Federation has increased wheat exports by 20.8 percent since the beginning of the agricultural year

From July 1, 2020 to April 1 of this year, Russian exporters sold 33.9 million tons of wheat on the world market, which is 20.8 percent more than in the same period last season.

The Federal Customs Service published data according to which the export of all grain crops during this time amounted to 42.2 million tons (plus 23.4 percent compared to the previous period). Barley supplies increased the most in percentage terms (plus 58.3 percentage points) and reached 5 million tons, corn was exported 8 percent more, to 2.9 million tons.

Meanwhile, last week unfavorable weather conditions in European countries, in particular frosts and at the same time drought in France, the absence of spring rains in Germany and other EU countries, led to the strengthening of the French wheat market. In this regard, the May quotations of milling wheat on the Parisian MATIF stock exchange increased in price by 3.25 euros and reached 220.75 euros per ton (in dollar terms – 264.31).

The same reasons – dry weather – caused an increase in May quotations on the US grain market. So, SRW soft wheat in Chicago rose by $ 6.71 per ton and amounted to $ 238.09, HRW durum wheat in Kansas City – by $ 6.89, to $ 221.74, HRS durum wheat in Minneapolis – by $ 4, 41, to $ 242.87, Grain Online reports.

Source: Rosng.ru


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