Russian wheat exports are up sharply so far this month, at 49,193 Mt/d. Volumes are increasing on the prospect of an improving crop and better weather conditions. Russian exports were 8,540 Mt/d in the same month a year ago and 15,779 Mt/d in June 2019. Meanwhile, the US wheat crop condition is deteriorating, with 49% said to be in good or excellent condition through Monday. That’s down from 52% a year ago, with some farmers in the Great Plains suggesting that excessive heat is combining with drought to damage the crop.
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