Black Sea prices are underpinned by the field situation

13.07.2018

RUSSIA. Mixed trends were observed in the Russian wheat market during last week, reports UkrAgroConsult.

While high-protein wheat gained $1-2/MT, coarse grain price lost $4/MT. Export prices for Russian milling wheat in the deep-water ports rose to $198-201/MT FOB for 12.5% protein wheat, $191-193/MT FOB for 11.5% protein wheat, and $182-185/MT FOB for feed wheat (Novorossiysk port, July-August delivery).

A price increase was registered in small ports as well.

Apart from global trends vectoring Russian wheat exports, prices are underpinned by the field situation. Concerns about a grain crop shortfall are increasingly heard now due to scarce moisture supply and a lower wheat yield. Rain is expected to fall in major growing regions within the coming weeks. However, analysts are more and more inclined to adjust their wheat crop forecasts – this will support prices despite the harvest advance.

UKRAINE. Last week, export prices for Ukrainian wheat with 12.5% protein remained unchanged at USD 196-200/MT FOB, and for 11.5% protein wheat – at USD 190-193/MT FOB.

As expected, domestic wheat prices stopped falling, despite the ongoing winter wheat harvesting and the beginning of spring wheat harvesting. The prices remained unchanged. Lower average yields compared to last year did not allow prices to go down, UkrAgroConsult’s analysts note.

Check up prices and enjoy free online charts on UkrAgroConsult’s website. Daily updated commodity exchange prices (CBOT, ASX, BCE, MATIF, WCE, LIFFE) and cash market quotations for wheat, corn, barley, soybean, sunflower and other agricultural commodities in Ukraine, Black Sea region and world are available in section "Prices and Futures".

 

UkrAgroConsult

 

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