Analysts have lowered their September estimate for wheat exports from Russia

Published 2024년 9월 3일

Tridge summary

Russia's wheat exports for the current month are projected to be around 5.1-5.2 million tons, a decrease from the same period last year, with Egypt and Turkey being the largest importers. The price for Russian wheat remains at $216 per ton, while prices for French and German wheat have increased due to concerns about crop quality. The European Commission has revised its estimate of the EU's soft wheat harvest, indicating a decrease from the five-year average. The market has also been affected by reports of China's intention to reduce grain imports due to a record harvest and low domestic prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Wheat exports from Russia this month, taking into account deliveries to the EAEU countries, may amount to 5.1-5.2 million tons, or 300-400 thousand tons less than in the same month last year. This was reported by Interfax with reference to data from the analytical center of the Rusagrotrans company. Experts noted that this is approximately the same as last month, when 5.2 million tons were exported abroad. At the same time, the August estimate was increased. Previously, it was 4.95 million tons. The reason for the positive adjustment was higher shipment volumes in deep-water ports in the south. This fully compensated for the cessation of deliveries to Kazakhstan due to the ban on deliveries by the republic. According to preliminary results for the month, the main importer of Russian wheat is Egypt, where 860 thousand tons of Russian wheat were delivered. Turkey was in second place with 500 thousand. At the same time, taking into account the ban on deliveries as part of the ...

Source: Rosng