Russian wheat exports up 41% YOY despite this week's slowdown

Weekly Russian grain loadings slowed down, dropping back below 1 million mt for the first time since early February, even as total exports reached 40 million mt, data from the ministry of agriculture showed Monday.

Grain loadings, for the week to April 8, fell back to 818,000 mt – down from almost 1.5 million mt the week before – as bad weather and holidays hampered loading.

Nonetheless, total exports remain 39% higher than last year leaving Russia on course for its biggest-ever year of grain exports.

Wheat has led this marketing year’s charge, but fell to less than half of the previous week's total, with exports at 576,000 mt.

Total wheat loadings for 2017/18 are now 41% higher than at the same stage last year at 31.2 million mt.

Barley exports for the week came to 84,000 mt, with the total now 93% higher than last year at 4.5 million mt.

Corn exports for the week reached 59,000 mt, with the total up 1% year-on-year at 4 million mt.