Russian wheat exports between the start of the marketing year on July 1 and August 8 were 4.63 million mt, up 90% on the year. The faster pace than last year reflects an earlier-than-usual harvest as a result of hot, dry weather, which prompted farmers to begin much earlier than expected to minimize heat and drought damage to crops. Despite this, crop production forecasts are much lower at around 70 million mt for 2018-19 than 2017-18s 85 million mt harvest. Supply constraints have subsequently pushed prices to record highs. Deep sea port 12.5% protein wheat was assessed by S&P Global Platts at a 41-month high of $231.50/mt. The forecast for Russian production was revised up 1 million mt to 68 million mt. Exports too were revised up 1 million mt to 35 million mt but still well short of the 42 million mt exported in 2017-18.