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Russia's seaborne grain exports fell to 2.1 million tonnes in May, down 62.9% year-on-year, according to shipping data. Exports through Black Sea terminals dropped 63%, and Caspian Sea shipments halted in April and had not resumed by May.
Total seaborne exports for the season are down 27.7% to 44.6 million tonnes, following export quotas introduced in February.
Russia is the world's leading wheat exporter, so a sharp drop in its available supply tightens global wheat balances and supports prices. Quota-driven export curbs are likely to keep international wheat offers firm.
grainjournal.comJun 18, 2025After 182 past bullish policy events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
