Russian wheat exports show the worst performance in the last 5 years
Russian wheat exports in February 2025 amounted to only 1.9 million tons, the lowest figure for this month in the last five years, Rusagrotrans reports. The main reason for the sharp decline in exports was the deeply negative profitability for exporters at current domestic prices and the level of external demand. Export prices for Russian wheat with 12.5% protein stabilized at $252 per tonne FOB. By comparison, prices for Romanian, French and American wheat fell to $244, $237 and $238, respectively.
According to Rusagrotrans’ forecasts, in March 2025, exports may decline even further to 1.5-1.7 million tons. If these expectations are confirmed, it will be the worst result since March 2021, when a duty of €50 per ton was in effect. The decline in exports is also attributed to a drop in wheat futures in Chicago to $204 per ton, down 8% from a week earlier. On the Euronext exchange, prices for May contracts also fell by 3% to $238 per ton.
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