Russian milling wheat prices increased slightly after resumed Turkish demand

19.05.2017

Mixed price trends continued in Russia’s grain market last week. In the Novorossiysk port, export prices for Russian milling wheat with 12.5% protein flattened out and closed the week at $185‑187/MT FOB for May-June delivery. Part of traders lowered to $184/MT FOB, reports UkrAgroConsult.

At the same time, price growth continued in small ports in view of more active export shipments and resumed Turkish demand. In small ports, Russian export prices for milling wheat with 12.5% protein closed the week up at $170‑173/MT FOB for May-June delivery.

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Despite steadily weakening importer demand toward the season’s end, Russian wheat is nevertheless in demand. As before, Egypt is the most active buyer. According to market participants, roughly 500 KMT of Russian wheat has been contracted for May delivery to Egypt alone.

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.

 

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