Russian wheat exports in the 2017-18 (July-June) marketing year to date were 44.6% higher year on year at 36.4 MMT. Around 39.5 MMT of wheat expected to be exported by the end of the campaign which would be a global record for a marketing year. Despite the USDA raising its export estimate from 38.5 million mt in the previous WASDE report, prices have fallen as fresh business has been absent. Prices for 12.5% protein wheat on a FOB basis were at a 1-1/2 month low at $209.50/mt on a lack of buying interest due to good coverage and the arrival of the new crop.