Russia, the world’s third biggest wheat exporter last season, will export about 200,000 metric tons of grain this month, the Institute for Agricultural Market Studies said.
Shipments were about 100,000 tons last week through yesterday, the smallest weekly total this marketing year, said Oleg Sukhanov, an analyst at the company known as Ikar in Moscow. Grain exports this season have exceeded 14 million tons, including 10 million tons of wheat, he said. The Agriculture Ministry is forecasting 14.8 million tons for the whole season that ends June 30.
Russia is expected to be the fifth-biggest wheat exporter this season after the U.S., Canada, the European Union and Australia, the U.S. Department of Agriculture estimates. Wheat for March delivery rose 0.5 percent to $7.6875 a bushel on the Chicago Board of Trade by 7:42 a.m. local time.