Russian wheat export prices increased $5-7/MT last week

Export prices for Russian wheat closed the week up another $5-7/MT FOB in deep-sea ports and up $3-5/MT FOB in small ports.

Growth of Russian wheat price accelerated: it has gained 13% on FOB basis over the month (last month its increase equaled 9%), reports UkrAgroConsult.

As before, the prices are pushed up by a strengthening world market and active foreign demand.

Purchase prices for wheat in Russia also continue to rise: they closed the week on average up RUB 500-600/MT in deep-sea ports and up RUB 250-350/MT in the port of Azov. Growers are unwilling grain sellers as they are waiting for a further price increase, therefore traders are forced to raise buyer price.

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UkrAgroConsult