Russian grain export market was flat due to long holiday period

13.01.2017

No substantial price changes have happened in the export market of Russian wheat during last week.

The grain market was extremely flat in the holiday period. Export prices are rather theoretical because no new contracts are actually signed, reports UkrAgroConsult.

According to market participants, Russia exported half as much grain in the first week of January 2017 compared to the same time in 2016. This was mostly previously contracted Russian wheat shipped to Egypt under government tenders.

Export prices for Russian milling wheat closed the week unchanged within $181-184/MT FOB for 12.5% wheat protein and $181-182/MT FOB for 11.5% wheat in Novorossiysk port for January-February delivery. Prices are supported both by a global wheat market upturn and further strengthening of the Russian rouble against the US dollar.

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 Oil" and "Online market review" by UkrAgroConsult.

 

UkrAgroConsult

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