The SovEkon company raised its forecast for Russian wheat exports in the 2025/26 agricultural year (July-June) by 0.4 million tons to 44.6 million tons. This was done based on high delivery rates and improving export margins, Interfax reports.
“Russian wheat exports have been exceptionally high in recent months. December deliveries are estimated at 4.2 million tons, which is close to the monthly record of 4.3 million tons, and November deliveries at 5.1 million tons, which is significantly higher than the previous November record of 4.3 million tons,” the company said in a statement.
According to experts, demand from importers remains high. Buyers who had been postponing purchases in hopes of lower prices returned to the market, resulting in historically high supply volumes for this period. Export margins also improved. Domestic prices continue to decline, while export prices are holding at around $230 per tonne (FOB), allowing margins to move from negative to slightly positive.
Russia's export campaign this season started slowly but has accelerated to near record levels, company CEO Andrei Sizov said, quoted in the report. “We do not exclude a further increase in the export forecast, although slow sales and a strong ruble remain key obstacles,” he said.
SovEcon also raised its barley export forecast by 0.2 million tons to 3.8 million tons and increased its corn export estimate by 0.1 million tons to 2.5 million tons. Total grain exports from Russia are now forecast at 52.9 million tons, up 0.3 million tons from the November estimate.
Source: https://www.zerno.ru/node/32121