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Russian wheat exports up 48.5% in marketing year to 39.05 mil mt as of June 13

London — Russian wheat exports in the 2017-18 (July-June) marketing year were48.5% higher on the year at 39.05 million mt as of June 13, data from theministry of agriculture showed Monday.

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Exports accelerated in last week to 514,000 mt, up 11% from the previousweek. As the harvest has already started for barley, producers need storagecapacity to store the new crop. The wheat harvest is expected to start by theend of this week or the beginning of next in the southern regions of Russiaand Ukraine.

Around 40.5 million mt of wheat was forecast to be exported by the end ofthe campaign, up from 38.5 million mt, according to the US Department ofagriculture WASDE report, which would be a global record for a marketing year.

Offers for FOB 12.5% protein wheat loading in July on a Handysize vesselwere said by sources to be at $201/mt Friday while bids were reported at$200/mt. The market was assessed at $200.50/mt Friday, a three-month low as aresult of harvest pressure and low buying interest.

Russian exporters also shipped 5.48 million mt of corn in the currentmarketing year as of June 13, up 11.6% on the year, while the pace of exportsrose 62% from the previous week to 194,000 mt.

Barley exports totaled 5.64 million mt, double the amount a year earlierand 20% higher on the week to 54,000 mt.

--Alexandre Bobylov, alexandre.bobylov@spglobal.com

--Edited by Jeremy Lovell, jeremy.lovell@spglobal.com