Over the 17 days of June, Russia reduced grain export shipments by 11%

Published Jun 18, 2024

Tridge summary

From June 1 to June 17, Russia exported 2.7 million tons of grain, an 11% decrease from the same period last year, with significant declines in barley and corn exports. Wheat exports saw a slight decrease, with Egypt, Saudi Arabia, and Türkiye being the main buyers. The number of exporting companies and ports used also decreased, and prices for Russian wheat fell by 3.2% to $240 per ton. The article also discusses the competitive dynamics in the global grain market, noting that reduced discounts and declining prices for European grain could influence price trends in other markets.

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

Original content

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), grain exports will amount to ...

Source: Oilworld