Russia. Wheat market remained under pressure last week


The Russian wheat market primarily remained under pressure this past week, reports UkrAgroConsult.

So, average export prices for Russian milling wheat with 11.5%-protein closed the week down another $1/MT at $182-185/MT FOB Novorossiysk port for December-January delivery. At the same time, its prices in small ports lost another $1-2/MT and lowered to $143-146/MT FOB for December-January delivery.

Prices for 12.5%-protein milling wheat in Novorossiysk port also slightly slid to $191-193/MT FOB for December-January delivery.

Despite steady high demand from importers, Russian wheat prices get adjusted both by the global and domestic markets. Exporters are forced to lower their price to remain competitive in the world wheat market.

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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