Increase in prices continues in the Russian milling wheat market

12.08.2016

Increase in prices continues in the Russian export milling wheat market. Over the week (August 1-8) prices for wheat with 12.5% protein and 11.5% increased by USD 2-3 to USD 167-170 / MT and USD 162-164 / MT FOB respectively in the Novorossiysk port for August-September delivery. Insufficient supply of high-protein wheat supports prices for milling wheat at the background of consistently high demand from key importers.

Another supporting factor is high pace of Russian wheat exports. According to market operators, more than 1.5 MMT of wheat were exported in July against 1.34 MMT in July 2015.

 

 

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