Russian wheat exports pick up pace, total 24.5 million mt

Russian wheat exports have picked up speed again after logistical issues hampered the export pace over the past fortnight, data from the ministry of agriculture showed Monday.

A total of 790,000 mt of wheat was loaded in the week to February 7, almost double the volume exported in the previous week.

It takes total wheat exports for the 2017/18 marketing year to 24.51 million mt, a 37% increase on the same stage last year.

Barley exports came in at 91,000 mt for the week, with total sales a 91% increase on the same stage last year at 3.9 million mt.

Corn exports were 84,000 mt, with total exports 6% down year-on-year at 2.82 million mt.

Exports had slowed in recent weeks as weather hampered the pace of loading and showed the first real signs of strain on a logistical network which has been stretched to full capacity to get this year’s record-breaking crop to the export market.

Nonetheless, total grain exports now stand at 31.42 million mt – a 36% increase on the same stage last year – leaving Russian exporters on track to reach the ministry of agriculture’s forecast of up to 47 million mt.