Russia. Wheat prices hit two-year low
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Russia. Wheat prices hit two-year low

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Consulting Agency UkrAgroConsult

UkrAgroConsult

Export prices for Russian milling wheat continued sinking (down $4-5/MT FOB week-over-week in deep-sea ports and down $1-2/MT FOB in small ports), reports UkrAgroConsult.

Russian wheat prices have lost $10/MT FOB over the month (down $38/MT FOB year-over-year), hitting their two-year low.

Prices continue to be driven down by weakening foreign demand against the background of increasing grain supply from the Black Sea region.  

Comparatively high purchase prices in Russia’s domestic market along with low export prices have undermined export competitiveness of Russian wheat and reduced its shipments abroad.

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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