Russia. Milling wheat prices hit their lowest since December 2017

Export prices of Russian wheat continued falling last week (down $2-3/MT FOB on the week), reports UkrAgroConsult.

The following factors pressure prices: sinking wheat prices in the world market; weakening foreign demand; intensifying competition both among Black Sea exporters and with European suppliers.

Domestic price growth stopped in most regions. Nevertheless, due to a weakening rouble against the US dollar, purchase prices in the domestic market still may increase.

In addition, active domestic demand from processing companies maintains wheat prices at a still high level.

More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for Online Analytics "Black Sea Grain" in the new innovative tool for agri market participants – AgriSupp.com by UkrAgroConsult. We offer 2-week trial! Completely free!

Please be reminded that on September 5, UkrAgroConsult will host a major meeting point of the oilseed industry operators – the 7th International Conference “Black Sea Oil Trade-2019” in Hilton, Kyiv, Ukraine.

‘Black Sea Oil Trade’ conference annually brings together key players of the global agribusiness at the start of a new oilseed season. The goal of the conference is to discuss prospects and directions of the Black Sea and global oilseed market development, exchange international contacts, share recommendations for adapting business strategies in the changing market and global trade.

More than 250 delegates from 25+ countries attend the conference annually. Conference participants are represented by producers and crushers of oilseeds, traders, enterprises for deep processing of vegoils, investment companies, banks, legal, shipping, brokerage, insurance, surveyor and other companies.

UkrAgroConsult