Russia. Export prices for milling wheat increased by $1 last week

07.07.2017

Export prices for Russian milling wheat of new crop in the Novorossiysk port closed the reporting period up another $1/MT at $186‑188/MT FOB (12.5%- protein wheat for July-August delivery). The prices were supported by strengthening wheat of American and European origins and of wheat from Ukraine. A later start of the harvest in Black Sea countries delays the arrival of new-crop grain into the market, thereby forcing buyers to pay more for near-term deliveries.

Uncertainty about VAT is an additional constraint for Russian market players now. This factor hampers domestic and foreign sales for August-September.

More information on price behavior on grain market in the countries of Black Sea region is available to subscribers for weekly market report "Black Sea Grain and Oil" and "Online market review" by UkrAgroConsult.

 

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