SovEcon estimates Russia exported 4.3 MMT of wheat in October, the first month in 2022-23 in which shipments exceeded year-earlier levels. As a result, the firm raised its estimate for 2022-23 Russian wheat exports by 300,000 MT to 43.7 MMT. SovEcon says Russia has enough supplies to export around 50 MMT of wheat during 2022-23, but slow shipments during the first quarter of the marketing year, the strong ruble and the export tax are limiting factors. Another hurdle that is becoming more noticeable is the lack of grain railcars. Currently, exporters have to wait two to three months to get the railcars.
SovEcon Raises Russian Wheat Export Forecast
SovEcon estimates Russia exported 4.3 MMT of wheat in October.
(AgWeb)
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