Russia Grains Exports Pace Brakes in June
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Since the Ukraine conflict started at the end of Feb 22, Russia Grains exports have performed very well, outpacing the previous years’ monthly exports. However, exports slowed down rapidly in Jun, as Russian Wheat exporters are reaching their quotas. The pace reduced each week except for week 23, where Russia improved exports only by 7 kmt versus the same period in 2021. In week 25 alone (Jun 20 – 26), exports dropped 508 kmt YoY. Despite Corn & Barley export pace increasing for the month, the dwindling supply of Wheat —Russia’s top agricultural export— led Russia exports to plummet to 2.07 Mmt for the entire month.
Russia Cumulative Grain Exports Delta in Jun: 2022 v. 2021
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