- Stable exports: Weekly wheat loadings at Novorossiysk eased just 2.8% to 449.7 thousand tons, signaling steady Black Sea export flows.
- Diversified demand: Oman, Sudan, and Turkey each took more than 60 thousand tons, highlighting broad MENA regional demand.
- Neutral sentiment: A minor volume decline and continued robust shipments keep overall market sentiment neutral for now.
Novorossiysk Wheat Export Volumes
The port of Novorossiysk loaded 449.7 thousand tons of wheat onto vessels last week, according to Grain On-Line agency citing GC TBI/Logistic OS data. This is 13.0 thousand tons below the prior week’s volume of 462.7 thousand tons, reflecting a marginal 2.8% week-on-week decline and indicating broadly stable export activity from Russia’s key Black Sea hub.
| Week | Wheat Loadings (thousand tons) | Change (thousand tons) | Change (%) |
|---|---|---|---|
| Previous week | 462.7 | – | – |
| Last week | 449.7 | -13.0 | -2.8% |
Top Destination Breakdown
Oman emerged as the largest buyer last week with 71.5 thousand tons of wheat loaded, followed by Sudan at 69.0 thousand tons and Turkey at 63.0 thousand tons. The remaining volume was distributed across other markets, while Iran, which had received 135.7 thousand tons in the previous week, did not feature as prominently this time.
| Destination | Wheat Volume (thousand tons) |
|---|---|
| Oman | 71.5 |
| Sudan | 69.0 |
| Turkey | 63.0 |
| Iran (previous week) | 135.7 |
Market Analysis and Sentiment
The modest 2.8% decline in weekly loadings points to continued resilience in Russian wheat exports from Novorossiysk, rather than a significant slowdown. The broader spread of shipments across Oman, Sudan, and Turkey underscores healthy demand from Middle Eastern and North African buyers, in contrast to the prior week when Iran dominated purchases.
This shift toward a more balanced destination mix may reflect Iranian procurement schedules or more competitive pricing and freight combinations offered to alternative buyers. From a price perspective, export flow remains robust and the volume pullback is small, supporting a Neutral overall market sentiment in the short term.
Source: Market Data
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