Export of Wheat from the Russian Federation in February Recorded as Lowest for the Month in the Last Five Years

Written By Viktor Zhuravlev

  1. Exports in February 2024: Russia exported 1.9 million tons of wheat, the lowest in February for the past five years.

  2. Previous Records: The previous low was in 2020 with 1.93 million tons.

  3. March Forecast: Analysts predict further reduction to 1.5-1.7 million tons, the lowest since 2021.

  4. Profitability Issues: Decline linked to unprofitability due to domestic prices and low international demand.

  5. Price Comparison: Prices for Russian wheat stabilized at $252 per ton, while competitors' prices varied.

  6. Futures Market: Wheat futures dropped with Chicago Board of Trade (CBOT) closing at $204 per ton, a 8% decrease weekly.

Conclusion: Russian wheat exports have significantly decreased due to domestic pricing issues and decreased global demand, impacting futures prices.

Full article: Zerno.ru

Viktor Zhuravlev
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