Russia Wheat Export Quotas Are Limiting Flows
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Russian export quotas have limited Wheat exports since the beginning of the 2021/22 campaign. In May 2022, Wheat exports are expected to be limited to anywhere between 0.8 to 1.2 Mmt as exporters are reaching Quota limits. However, the export pace in May 2022 is much faster than the previous year. From May 1st to 19th, Russia exported ~314 kmt more of Wheat YoY, and 627 kmt is already shipped or booked for the rest of May 2022 so far. Russia exported 2.3 Mmt of Wheat in Apr 2022. With the reduced flow of Wheat shipped globally, and the 22/23 crop still months away, will Wheat prices surge once more?
Russia Wheat Exports Between May 1st & 19th: 2022 v. 2021
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