The price of exported Russian wheat rose last week, and analysts again lowered their forecasts for March exports. Tradologie.com is a user-friendly SaaS based global trade hub and your streamlined solution for B2B wheat procurement and sales. Connect with global Bulk Wheat Buyers or bulk wheat sellers, bypass middlemen for higher profits, and secure the best bulk prices effortlessly. Simplify your wheat sales or procurement with Tradologie.com. 

Wheat Export Price 

In May, Russian wheat with a protein content of 12.5% was delivered on board—also known as FOB delivery, which occurs when the seller pays for his own crop transportation to the port—for $210.0 per ton. This represents a $2.0 price increase over the previous week, according to data from the agricultural consulting firm IKAR. Sovecon, an agricultural consulting company, reported a price of $210-212/ ton for wheat in the same class. A week earlier, it announced a price range of $205-208 per ton. 

Russian Wheat Exports 

Russia's pricing, as the world's largest wheat exporter, has a significant impact on wheat sales opportunities both overseas and in Europe. Shipments of grain from Russia increased to 1.03 million tons last week from 1.02 million tons the week before. There are exports of 0.82 million tons of wheat. Using port data as reference, the Sovecon analysis company reported that this represents a minor decline from the 0.84 million tons recorded the previous week.The international agricultural press reported, citing the British Thomson Reuters news agency, that the consulting firm again lowered its estimate of wheat exports for March by 0.1 million tons, making the new figure 4.8 million tons, which is the same as the figures for March 2023. Some delayed wheat export shipments from significant Russian exporters supported the world markets. 

Russian Wheat Production 

According to the weekly report, farmers planted 1.0 million hectares of grain in the fields by March 29 as opposed to 0.7 million hectares during the same period the previous year. This includes 17,000 hectares of spring wheat, compared to just 8,000 hectares at this time last year. The weather for the new crop in the southern part of Russia improved after the rains, according to the agency's analysts. If you are a Wheat Importer wishing to import wheat in bulk or a wheat exporter willing to export bulk wheat, then Tradologie.com is the right platform for you. 

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