Russia. Export prices for wheat continued rising last week

02.02.2018

In the Russian market, export prices for wheat of all classes continued rising last week, reports UkrAgroConsult.

In Novorossiysk port, milling wheat price closed the week on average up another $2/MT at $196-197/MT FOB for 12.5%-protein wheat and $186-188/MT FOB for 11.5%-protein wheat, February-March delivery.

Feed wheat price also closed the week with an increase: up $3/MT at $185-187/MT FOB Novorossiysk port, February-March delivery.

The current behavior of wheat prices follows last season’s trend, though at a $11/MT FOB higher level than a year ago.

As before, the export market is supported by a strong rouble along with global price growth. In addition, foreign demand for Russian wheat remains steady for this time of year.

 

UkrAgroConsult

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