Russian wheat export market remained stable last week


Prices in the Russian wheat export market remained mostly stable during last week. Those for 12.5%-protein wheat stayed within $190‑192/MT FOB, while 11.5%-protein wheat still cost $182‑184/MT FOB, Novorossiysk port, January-February delivery, reports UkrAgroConsult.

Already traditionally, only Russian wheat (180 KMT) was purchased in the last Egyptian tender held in 2017, at a FOB price within the current market range.

Russian grain exports continue at a record fast pace. Nonetheless, despite record exports, grain stocks in the country are still at a high level compared with past years. According to the Russian State Statistics Service, grain stocks at growing, procuring and processing entities totaled 52.56 MMT as of December 1, 2017, or 15.8% more than at the same time in 2016.

The above-mentioned entities hold 21.6% more wheat than last year (15.18 MMT, including 10.7 MMT of milling wheat (up 24.6% year-on-year)).

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 "Online market review" by UkrAgroConsult.



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