Russia’s rising wheat prices and declining exports
According to analysts, export prices for Russia wheat are rising. Additionally, restrictions in the form of an export quota and increased export tariffs are leading to smaller volumes.
Russian wheat exports are expected to be about 2 million tons in February, more than 50% less than last year for this month. The Russian export quota came into effect on February 15 and is valid until June 30.
Russian grain stocks are smaller than a year ago. Wheat stocks dropped by 31.5% year-over-year to 13.7 million tons, as of February 1, according to data from Russia’s Rosstat.
EU grain markets
The European Union has imported more wheat than exported in the 2024-2025 season so far. This is reported by the European Commission. Grain exports from the EU have plummeted by 32% to 19.5 million tons. In the same period last year (from July 1, 2024, to February 10, 2025), the EU had exported nearly 29 million tons of grain.
Ukrainian wheat
It is likely that Ukraine’s wheat stock intended for export has fallen to a low level. Ukrainian wheat prices have risen, and exports have decreased.
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