Russia. Wheat price growth continued last week

19.01.2018

Noticeable price growth was observed in the export market of Russian wheat last week, and it concerned wheat of all classes, reports UkrAgroConsult.

Milling wheat price closed the week on average up $1/MT at $192‑194/MT FOB for 12.5%-protein wheat and $182‑185/MT FOB for 11.5%-protein wheat, Novorossiysk port, January-February delivery.

A more significant rise was registered in small ports: roughly $3-4/MT over the week to $159‑163/MT FOB for 3rd class wheat and $149‑152/MT FOB for 4th class wheat, January-February delivery. 

Feed wheat price also closed the week up $1/MT at $179‑182/MT FOB in Novorossiysk port, January-February delivery. 

The export market was supported primarily by a growing rouble against the US dollar. The rouble has gained 4.3% over the past month. In addition, stronger import demand for Russian milling wheat has persisted in January.

Nonetheless, the current price is still higher than a year ago (up $10/MT FOB as of January 12).

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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