Milling Wheat The Black Sea market was firmer last week as it followed the trend of EU and U.S. markets. Russia’s export pace has slowed to about 300 KMT per week. As a result, it will export about 4 MMT in the last quarter of the campaign for an approximate total of 34 MMT, which is far below USDA’s estimate of 37 MMT. The weather in Ukraine and southern Russia remains generally favorable for wheat development with normal seasonal temperatures, frequent precipitation and adequate soil moisture. The 2019 crop is estimated at 75-80 MMT in Russia and 26 MMT in Ukraine versus 72 MMT and 24.5 MMT, respectively, in 2018. Those estimates are very preliminary as the wheat is just entering the most critical period of development. The...
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Illuminating the value of technical research
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