Experts "Sovekon" estimate the export of grain at the end of the month in the area of 4.8 – 5.0 million tonnes, wheat – 3,8 – 4,0 million tons Is unusually high for this month. A year earlier, the grain exports amounted to 2.6 million tonnes of wheat and 1.9 million tonnes.

Grain exports in April 2018 was $ 4.3 million tonnes, including 3.3 million tons of wheat.

Such a high rate of removal can be associated with a rise in export prices in recent months and the weakening of the ruble. At the beginning of may prices for wheat of 12.5% amounted to $214-215/t (FOB) against $190 at the beginning of the year.

In recent weeks, export prices gradually declining in anticipation of the arrival of a new harvest, which is quoted at $196-198 per ton (FOB).

The may USDA forecast exports of the major grains from Russia by the end of the season – 49.7 million tons, including 39.5 million tonnes of wheat. April forecast "Sovekon" - 50,4 million tons of grain and 39.8 million tonnes of wheat. Currently we are revising the Outlook upwards.

Since the beginning of the season the exports of grain amounted to 46.2 million tons, which is 31% higher total 2016/17.

Wheat exports cumulative, mln t

What does it mean?

High export growth have strong support prices to the end of the season. In the South the decline in the price of wheat began only a week ago, in other regions prices are still rising, gradually pulling upward to export parity.