Russia. Wheat export prices remained comparatively stable last week

24.02.2017

Export prices in the Russian milling wheat market were comparatively stable last week. Those for milling wheat with 12.5% protein remained at $189‑192/MT FOB in Novorossiysk port for February-March delivery. In the export market, milling wheat with 11.5% protein closed the week up another $1 at $185‑187/MT FOB in Novorossiysk port for February-March delivery.

Prices continue to be propped up by a strengthening rouble against the dollar. Another bullish factor is importer demand exactly for milling wheat, which is quite strong as for this time of season.

 milling wheat russia

The export market is supported by a strengthening rouble but the latter is ill-timed for the domestic market, where purchase prices of grain are already pressured by record-high inventories.

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 & Oil" and "Online market review" by UkrAgroConsult.

 

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