Black Sea Grain Deal

Russia Declared a Grain Superpower

Dan Grain, Industry News Release

wheat Russia
The American Journal of Transportation calls Russia a “grain superpower” as wheat exports from Russia surge. The Journal says grains are propelling Russia’s agriculture into a renaissance, charged by the 45 percent drop in the ruble against the dollar over the last few years and bumper crops. Last season, Russian topped the U.S. in wheat exports for the first time in decades and is expected to extend those gains to displace the European Union from the top spot this year. Wheat exports from Russia are projected around 30 million metric tons, and President Vladimir Putin of Russia last month urged the country to not hurry in moving excess grain. Russia’s Agriculture Ministry says the nation’s all-grain crop was estimated at 110 to 115 million metric tons, the largest overall grain crop in 25 years. The EU is also enjoying gains in wheat exports. The gains by Russia and the EU are coming mostly at the expense of the United States, which has seen its share of the wheat market steadily moving lower in recent years.

From the National Association of Farm Broadcasting news service.