Russian export prices for wheat continued to decrease last week

15.03.2019

Further downturn is observed in export prices for Russian wheat. On average, those for milling wheat closed the week down another $3-5/MT FOB in both deep-water and small ports, for March-April delivery.

Over the past month, Russian wheat with 12.5-percent protein has fallen in price by $20/MT FOB in deep-water ports, to a three-month low, reports UkrAgroConsult.

As before, prices were pressured by sliding wheat prices in the world market along with the absence of foreign demand for uncompetitive Russian commodity. The price spread between Russian wheat and other offers continue to widen.

Noteworthy is that purchase prices for wheat in the domestic market also kept falling and closed the week down another RUB 200/MT СРТ-port. Nonetheless, the trade has not revived yet.

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 Online Analytics "Black Sea Grain" in the new innovative tool for agri market participants – AgriSupp.com by UkrAgroConsult. We offer 2-week trial! Completely free!

 

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