Russia. Wheat export prices continued to decrease last week

17.11.2017

The Black Sea wheat market was dominated by downward price trends last week, though the global market closed the week with a gain, reports UkrAgroConsult.

So, export prices for Russian milling wheat with 11.5% protein in the Novorossiysk port closed the week down $2/MT at $184-186/MT FOB for November-December delivery. Prices for 12.5%-protein wheat remained at the previous week’s level of $192-193/MT FOB Novorossiysk port for November-December delivery. Prices in small ports underwent no change either.

Prices for 11.5%-protein wheat (4th class) are pressured by competition in this segment of the Black Sea market along with weakening demand from importers.

Prices for high-protein wheat were supported by persistently strong demand from buyers and record high exports.

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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