Russia. Wheat export market continued showing a price downturn last week
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Russia. Wheat export market continued showing a price downturn last week

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Consulting Agency UkrAgroConsult

UkrAgroConsult

The export market of Russian wheat still shows a price downturn. On average, old-crop wheat price for May-June delivery closed the week down another $5-6/MT FOB in both deep-water and smaller ports. Russian wheat prices are pressured by the world market, expectations of a larger crop in Russia, and weak demand from importers, reports UkrAgroConsult.

Prices for new-crop wheat are also under pressure from good wheat crop condition in Russia. On average, forward prices for 12%-protein wheat closed the week down another $2/MT FOB in deep-water ports (July-August delivery). At the same time, the markets of both old- and new-crop wheat are flat. Whenever possible, importers have taken a pause in anticipation of a further price decrease. 

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!

 

UkrAgroConsult

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