Russia. Wheat prices continued their growth last week


Price growth continued in the Russian wheat market. Export prices for Russian milling wheat closed the week up another $2-3/MT FOB (in both deep-water and smaller ports) and reached a four-year high, reports UkrAgroConsult.

Despite rising export prices and slowing shipments, Russian wheat is still in steady demand from importers. Domestic grain prices in the port regions rose again. On average, purchase price for milling wheat closed the week up another RUB 300-400/MT СРТ-port;

Russian wheat continues losing its competitive advantage against other international offers. Tight supply of Russian wheat in the latter half of the season and growth of its prices will push importers to turn to its competitors.

More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Grain" by UkrAgroConsult.

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