Russia. Wheat export prices closed down by USD 1-2 last week


A downward price trend continued in the Russian wheat market last week. The demand from importers remained rather low, as buyers waited for more attractive prices, reports UkrAgroConsult.

Export prices for Russian wheat of all grades closed the week down another USD 1-2/MT, both in deep-water and small ports, reaching USD 214-220/MT FOB for wheat with 12.5% protein in Novorossiysk, and USD 192-196/MT FOB in small ports for delivery in September-October.

The prices were also pressured by revised estimates in the recent USDA WASDE report, where the forecast of wheat production in Russia was raised by 3 MMT to 71 MMT.

More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior as well as on crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Grain" by UkrAgroConsult.



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