Russia Expects Big Jump in Wheat Exports

Russian wheat exports could jump to 50 MMT in 2022-23, up sharply from around 37 MMT this year, according to the country’s ag minister. Russia is expected to harvest 130 MMT of grain, including 87 MMT of wheat. Exports of grain and other commodities from Russia continue amid a lack of vessels as many owners of large ships stopped working with the market amid Western sanctions. The country’s ag ministry is in talks with the state United Shipbuilding Corp. about construction of vessels for grain exports to address the shortage.