Wheat exports expected to jump 40%

Wheat exports from the Black Sea region are set to jump as much as 40 percent this month as buyers seek cheaper supplies from Russia and Ukraine, according to grain trader Nidera SA.

Shipments from the countries and Kazakhstan may reach 3 million to 3.5 million metric tons in July, said Francesca Kleemans, director of strategy and research at the Nidera Handelscompagnie BV trading arm. That compares with 2.5 million tons a year earlier, reported Bloomberg.