According to Sovecon data, Russia's estimated exports of wheat, barley, and corn in January were 3.6 million tons, lower than the 4.6 million tons in December.

Russia's wheat exports decreased in January, from 4.6 million tons in December to 3.6 million tons, a decrease of about 22%, leading to a tightening of global supply and benefiting spot prices. The decrease in exports may push up spot prices in demand areas, but attention should be paid to the supply situation in other production areas.

The export volume of barley from Russia decreased in January, from 4.6 million tons in December to 3.6 million tons, a decrease of about 22%, and the decrease in supply supported the rise in spot prices. The decline in exports may exacerbate market supply shortages and benefit the spot market, but it needs to be evaluated in conjunction with changes in global demand.

Russia's corn export volume in January decreased by about 22% from 4.6 million tons in December to 3.6 million tons, with a significant reduction in supply benefiting spot prices and potentially pushing up global corn spot prices. Based on futures data, the main corn contracts on the Dalian Commodity Exchange, such as 2603 (settlement price of 2,288 RMB/ton, up and down +12) and 2605 (settlement price of 2,280 RMB/ton, up and down +5), show an upward trend with high holdings and trading volume. This news may further strengthen the upward momentum of futures prices, as the reduction in exports exacerbates the expectation of tight supply.

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