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● Exports slow down on strong ruble and higher taxes
● Turkey and Iran are the main buyers of Russian wheat
● Exports estimate of wheat and other grains down on smaller crop and high competition
• Russian wheat prices moved higher again, supported by strong ruble
• Weekly exports rise
• Weak exporters’ demand push domestic grain market lower
• Sunflower higher supported by more expensive oil
• Weather setup is good for 2022 crop
I am the Managing Director of SovEcon, a leading firm focused on the Black Sea agricultural markets research. For 27 years we have been forecasting crops and exports, assesing stocks and consumption and looking at other key price drivers. Every day we talk to farmers, traders and officials gathering market intelligence and sorting out the market noise.
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