Russia. Wheat export prices decreased last week despite of strong demand

22.12.2017

Weakening of export prices is observed in the Russian wheat market, though wheat exports from the country continue at a record pace. The downward trend in the global market does exert some pressure. Export prices for Russian milling wheat closed the week on average down $0.5-1/MT at $190-192/MT FOB for 12.5%-protein wheat and $182-184/MT FOB for 11.5%-protein wheat, December-January delivery.

Russian wheat is still in keen demand from Turkey, Egypt, as well as from South-Eastern Asia.

The pace of grain exports from Russia remains fast, though they faced some weather-related difficulties last week, reports UkrAgroConsult.

In the December report, the USDA raised its forecast for Russian wheat exports by another 500 KMT in MY 2017/18, to 33.5 MMT.

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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