Russia. Wheat export prices continued to grow last week


Last week wheat export prices in Russia continued to grow following global trends. Despite a slowing pace of sales to foreign markets, export prices for Russian milling wheat for December-January delivery have gained on average another USD 1-2/MT FOB over the reporting period, in both Novorossiysk and smaller ports, reports UkrAgroConsult.

Prices are pushed up by exhausting grain inventories in South Russia along with deteriorated weather conditions that impede grain delivery to the ports. Additional support to Black Sea wheat prices came from Egypt, which purchased wheat in a government tender.

More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, 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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