Russian Grain Markets: 16–20 February 2026 During the week under review, the Russian grain market showed localized volatility across interior regions but remained generally stable at export terminals, the country’s primary trading platform. Among commodities, top-grade milling wheat prices increased; however, demand remained weak and inventories were burdensome. Deepwater ports operated normally, while shallow-water and Azov ports saw limited activity, leaving prices in those locations under pressure. The Ramadan period is expected to slow Russian export activity, given the country’s significant trade with Muslim-majority markets. Russia exported approximately 64 MMT of grain and grain products to roughly 40 Muslim-majorit...