*Wheat Market Highlight* For the first time this year, Russian wheat prices have declined due to weak export demand following the introduction of a tariff-rate quota (TRQ) on February 15. Sovecon estimates February wheat exports at 2 MMT, down from 4 MMT last year. In the short term, exporters may continue lowering purchase prices and pressuring the domestic market, though limited farmer inventories in key regions could support ruble prices. This decline in Russian wheat exports could also impact global markets, influencing international wheat prices based on supply dynamics in other major exporting countries.