Russia's Wheat Exports Braced for Threefold Decline in September

Russia's wheat exports could plummet to just 1.6-2 million tons in September, a threefold decline from last year's 4.9 million tons, according to UkrAgroConsult.

The forecast is based on the assumption that Black Sea and Baltic ports will be able to handle shipments, but the situation remains tense due to ongoing conflicts in the Azov-Black Sea basin.

Russian exporters are being forced to rely on alternative and more expensive routes as a result of these tensions, while the return of Russia's floating grain export duty has added to their woes.