Last week, prices for Russian wheat decreased amid reduced demand from importers and falling global currency rates. Additionally, adverse weather conditions slowed exports from Russian ports in the first ten days of April. According to IKAR, prices for May deliveries of Russian wheat dropped by 12.5% to $236/t FOB Black Sea. SovEcon reports that within the week, prices fell from $238-240/t to $237-239/t. Importers from the Black Sea region are reducing purchases, while Turkey and Egypt are preparing for their own harvest. As of April 10, 2025/26 MR, Russia exported 37.5 million tons of wheat, which is 4.7% less than the record pace of the previous season. However, amid the war with Iran and fears of a deficit in global markets, wheat exports from Russia in March increased to 4.6 million tons, which is 2.1 times higher than in March 2025. The main buyers remain Egypt (over 1 million tons in March alone) and Turkey. There has also been a significant increase in supplies to Sudan ...