Russia exported a record high 3.8 million metric tons of grain during December, thanks to ongoing weakness in the country's currency, according to Pro Farmers First Thing Today newsletter. The export increase included 2.7 million metric tons of wheat. The currency decline has allowed traders to lower their prices for Russian wheat by $10 to $12. However, the Russian ag consultancy says grain exports will likely slip around 1.5 million metric tons in January due to seasonally slower demand. Just more than 1 million metric tons of exports from Russia will likely be wheat. However, it continues that in February and March, grain shipments are likely to pick up again.
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