Russian weekly exports on target as 1.3 million mt of grain ships

Russia remains on target to meet its revised grain export target for the marketing year, with 1.31 million mt of grain leaving in the week to March 26, data from the ministry of agriculture published Monday showed.

Total grain exports are 40% higher than at the same stage last year, with 37.67 million mt now exported since July.

With ministry of agriculture officials putting the estimated 2017/18 marketing year grain export total at 52 million mt, up from a previous target of 45 million mt, Russia will need to export about 1.1 million mt of grains a week to the end of June.

Wheat exports were the primary driver of the week’s sales and are now up to 29.42 million mt, a 43% year-on-year increase.

Barley exports continue to race ahead as another 141,000 mt left in the week, taking total volume for the marketing year to 4.3 million mt – 94% higher than at the same stage last year.

Corn volumes slipped against last year as 139,000 mt left in the week, taking total exports for the year to 3.7 million mt, which is 3% down on the same stage last year.