Russian Grains Market: 8–12 September 2025 Bearish sentiment in the Russian grains markets eased during the second week of September, with prices stabilizing in some regions. Proximity to ports continues to offer premiums as export activity gains momentum. Most grains are experiencing solid export demand, except for peas, which have depreciated steadily since the season began. Russian wheat is increasingly competitive globally due to low export duties (around $5.00/MT), despite firming RUB prices driven by currency depreciation and farmers’ reluctance to sell. Harvesting is ongoing, with grain production already at 105 MMT and a forecast of 135 MMT remaining realistic. As of August 2025, Russia’s grain and pulse stocks tot...