Russia. Price growth continued in export market of milling wheat


Price growth continued in Russia’s export market of milling wheat last week. Export prices for the commodity with 12.5% and 11.5% protein closed the week up another $1. In the Novorossiysk port, price for 12.5% wheat reached $186‑188/MT FOB and that for 11.5% wheat hit $183‑185/MT FOB for February-March delivery.

They were pushed up both by global wheat price growth and strong importer demand along with more active wheat exports from Russia, UkrAgroConsult notes.

The domestic market has got greater supply of milling wheat at more profitable prices for traders. Of course, they are higher in Russia’s export regions and competition for large volumes is under way there, but no purchase difficulties or supply shortages are reported. Purchase prices for Russian high-protein wheat closed the week at RUB 10,600-10,750/MT СРТ- Black Sea port.

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 Vegoils +CIS" and "Online market review" by UkrAgroConsult.



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