Russian wheat prices stayed at the previous level last week

06.04.2018

No substantial changes were seen in Russian export wheat prices last week, reports UkrAgroConsult.

Export prices for high-protein wheat (12.5%) closed the week with a slight increase of $0.5-1/MT at $208-210/MT FOB Novorossiysk port and $178-182/MT FOB small ports, April-May delivery, reports UkrAgroConsult.

The spread between old-crop and new-crop wheat prices in the deep-water ports equals $10/MT FOB against $15/MT FOB last year. The current level of forward prices for new-crop Russian wheat (12.5%) is on average $20-22 FOB higher than at the same time a year ago.

Russian wheat is still supported by record exports and demand at this time of the season. In particular, Egypt held the season’s largest GASC tender last week, where it purchased 475 KMT of wheat, including 355 KMT of Russian commodity.

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.

 

UkrAgroConsult

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