Russia. Wheat prices continued falling for a fourth week in a row

01.09.2017

Prices in the Russian wheat market have been falling for a fourth week in a row. Export prices for Russian milling wheat with 12.5% protein closed the reporting period down another $3-4/MT at $182‑184/MT FOB in the Novorossiysk port for September-October delivery. Prices for 11.5%-protein wheat decreased some $1-2/MT over the week to $171‑174/MT FOB in the Novorossiysk port, September-October delivery, reports UkrAgroConsult.

Export prices for Russian milling wheat have lost $15-16/MT over the month, but we believe they will not hit last year’s bottom. The price decline has already slowed down. The market is waiting for progress in the harvest of Russian wheat and for new data on its quality.  

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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