Ukrainian wheat exports are currently on a pace of 12,983 Mt/d this month, which is down a sharp 61% from June’s 33,621 Mt/d. The decline is counter to the trend in each of the last two years, where exports rose by nearly 800%. Russian exports show a similar trend, with this month’s loadings down 61% from June, to 19,810 Mt/d. They were up 660% in July last year, and up 425% in July 2019. Both countries’ exports are being adversely affected by drought conditions.