Russian wheat market: price growth continued last week

14.07.2017

Price growth continued in the Russian wheat market last week. Export prices for Russian milling wheat in the Novorossiysk port closed the week up another some $6-7/MT at $193‑195/MT FOB for 12.5%-protein wheat and $185‑188/MT FOB for 11.5%-protein wheat, July-August delivery. These prices continue to be propped up by a global market upturn and a lag in Russia’s grain harvest, reports UkrAgroConsult.

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Over the week under review, the Russian export wheat market received additional support from Egypt, which held two tenders in a row and purchased 465 KMT of Russian wheat therein. 

The Russian domestic wheat market also witnesses strengthening purchase prices for the new crop. Stocks of quality milling wheat from the old crop have exhausted, while a delay is reported in the arrival of new-crop grain.

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 & Oil" and "Online market review" by UkrAgroConsult.

 

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