From June 1 to June 17, the Russian Federation reduced grain shipments for export by 11%

Published Jun 17, 2024

Tridge summary

From June 1 to June 17, Russia's grain exports totaled 2.7 million tons, a 11% decrease from the same period last year, with wheat making up 2.38 million tons, a slight decrease, while barley and corn exports saw more significant drops of 26% and 63% respectively. The Russian Grain Union predicts that June exports will reach 4.95 million tons, slightly below the previous season's 5.1 million tons. Egypt, Saudi Arabia, and Turkey have been the main buyers of Russian wheat, with Africa becoming a target market. Price trends indicate a decrease after an initial rise, with the discount between Russian and European wheat reducing significantly from $29 to $11 per ton compared to the end of May.

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

Original content

Moscow. June 17. INTERFAX.RU - From June 1 to June 17, Russia shipped 2.7 million tons of grain for export, which is 11% less than in the same period last year, according to the monitoring of the Russian Grain Union. As Elena Tyurina, director of the union's analytical department, told Interfax, wheat exports amounted to 2 million 380 thousand tons, which is 0.8% less than a year earlier. The decline in shipments of barley and corn was more significant. Thus, barley exports fell by 26%, to 204 thousand tons, corn - by 63%, to 135 thousand tons. “Based on the current trend, we can expect that the volume of exports in June for the main types of grain will be slightly less than last season, when 5.1 million tons were sent abroad. I think this year we will reach 4.95 million tons “, Tyurina said. “In particular, wheat shipments this month may amount to 4-4.1 million tons versus 4.2 million tons a year earlier.” Thus, she noted, at the end of the season (until June 30, 2024 inclusive), ...

Source: Interfax