Russia. Export prices for wheat of all classes continued rising last week

26.01.2018

In the Novorossiysk port, milling wheat closed the week on average up $1-2/MT at $194‑196/MT FOB for 12.5% protein and $184‑185/MT FOB for 11.5% protein, February-March delivery, reports UkrAgroConsult.

More substantial price growth continued in small ports in view of quite active demand from Turkey: up some $3-7/MT week-over-week.

Feed wheat price also closed the week with an increase - up $2-3/MT.

The export market continues to be supported by a strong rouble and stable high demand from importers. Russian wheat remains the favorite in state tenders held by Egypt.

While a strengthening rouble is driving up export prices, the domestic market remains under pressure. Despite the record fast pace of Russian grain exports, including wheat deliveries, market inventories remain extremely high and keep pressuring prices.

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 "Online market review" by UkrAgroConsult.

 

UkrAgroConsult

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