Slower Russian Wheat Sales Benefit U.S.
Farmers not selling, keeping domestic supplies tight
In 2017/18, Russia exported a record-high 1.5 billion bushels (41 MMT) of wheat and became the largest world wheat exporter taking the market from the U.S. and the EU, reports Successful Farming.
Since that time, however, export volumes have been declining. This trend is likely to remain in place in 2019/20 when the country is expected to ship abroad 1.18 billion bushels (32 MMT).
The domestic supply is tight. Many farmers prefer to store wheat for as long as they can, while selling other crops, like barley or sunflowers, when they need cash to repay loans or finance the winter seeding campaign.
Read the full report here.