MOSCOW: Russian wheat export prices were down slightly last week, reflecting trends in global prices, while analysts expect shipments to pick up in October.
Consultancy IKAR said that, by the end of last week, export prices for wheat with 12.5 percent protein content shipped from the Russian ports of Vysotsk and Ust-Luga were at USD266 a metric ton free-on-board (FOB) for delivery in the second half of November, down USD1 from the previous week.
Most shipments are now being redirected to Baltic terminals because southern Russian ports are largely closed. Shipments via ports in the Azov-Black Sea basin came to a standstill from mid-August due to attacks on vessels and damage to terminals.
IKAR estimated that Russia was able to export up to 2.5 million tons of wheat in October.
Sovecon has raised its estimate for September to 2.4 million tons from 2.1 million tons. Wheat exports from Russia between July and September 2026 could total 6.8 million tons, compared with 11.3 million tons a year earlier, according to analysts at Rusagrotrans.
Russia has already harvested more than 126 million tons of grain from 90 percent of its cultivated land, with the harvest expected to reach 140 million tons, Russian Deputy Prime Minister Dmitry Patrushev said on Friday.
The Russian wheat harvest this year could reach last year’s levels, said Minister for Agriculture Oksana Lut on Monday.
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