Market News & Headlines >> Record Black Sea Grain Exports
Although worries about possible disruptions to Black Sea region grain exports spurred by the conflict in eastern Ukraine have frequently caused spikes in wheat futures prices over the past six weeks or so, actual exports from the region are up sharply.
Ukraine's grain exports rose to 5.01 million metric tons in the first two months of the 2014-15 marketing year (July-June) from about 3.3 million tons in the same period a year earlier, that country’s agriculture ministry said on Tuesday. The July-August volume in the current season included 2.75 million tons of wheat, 1.89 million tons of barley and 377,000 tons of corn, the ministry said in a statement.
Traders and analysts have said Ukraine's 2014-15 exports could exceed 33 million tons this season, compared with 32.8 million in 2013-14. Ukraine plans to harvest no less than 63 million tons of grain in 2014, similar to last year's level, according to agriculture minister Ihor Shvaika.
Meanwhile, Russia exported a record 4.5 million metric tons of grains, including 4.2 million tons of wheat in August, SovEcon, a Russian agriculture consultancy said on Monday, citing preliminary data.
In July, Russia exported 3.2 million tons of grains, including 2.7 million of wheat, also a record amount for that month.