Russia. Prices for high-protein wheat reached the highest level since November 2015

16.02.2018

Export prices for Russian wheat continued rising last week. Depending on the class, milling wheat in Novorossiysk port closed the week on average up another $1-2/MT at $198‑200/MT FOB for 12.5%-protein wheat, $190‑193/MT FOB for 11.5%-protein wheat and $186‑189/MT FOB for feed wheat, February-March delivery.

So, prices for Russian high-protein wheat reached their highest level since November 2015, reports UkrAgroConsult.

The export market is still supported both by further growth of global wheat prices and persistent strong demand from key importers. Egypt has been holding state tenders for wheat procurement for a second week in a row, and they are still dominated by Russian product.

Another bullish factor is strengthening wheat demand from Indonesia, including that for Russian commodity.

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.

 

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