Milling Wheat The market in the Black Sea is quiet since import demand in the major destinations is very slow. Black Sea wheat remains nominally the cheapest wheat for the Mediterranean destinations; however, this certainly will change after the harvest and when demand becomes more significant. Russian exporters have been aggressive this week as if they were pushing for the maximum possible export volume before an eventual export ban. The Russian wheat crop is now estimated below 45 MMT, which reflects less than 10 MMT of export surplus (versus 21.5 MMT in 2011/12).The EU allocated 312,000 MT of export licenses this week, bringing the total to 613,000 MT since the start of the new campaign (versus 977,000 MT allocated at the same time la...