Russia: In January, wheat exports are expected to be 13% less than last year

In January, wheat supplies from Russia are expected to be approximately 3.7 million tons, which is 13% less than the level of January last year (4.26 million tons). Interfax reports this with reference to data from the Rusagrotrans analytical center. Analysts note that low export rates in January will lead to continued high wheat stocks and an increase in export volumes in the spring, when weather conditions become more favorable. According to Rosstat, by January 1, wheat reserves amounted to 21.8 million tons, which is slightly less than a year earlier (22.1 million tons). In the South, reserves are 4.4% higher at 5.4 million tonnes, mainly due to strong performance in export-oriented regions such as the Krasnodar Territory and the Rostov Region. At the same time, in the North Caucasus Federal District, reserves decreased by 11% due to a decrease in gross harvest in the Stavropol Territory. According to Rusagrotrans analysts, high balances in the South are associated with a ...