Wheat prices suffer pressure for the 4th consecutive week in a row.

Egypt imported 405,000 tonnes of wheat from Russia via international bidding. The responsible Egyptian state company, GASC, acquired the grain with delivery scheduled for November 21-30th. Grain prices in the Black Sea region are rising for the fourth consecutive week, as previsouly reported by Tridge.

At the close of this Tuesday, contracts with delivery in December 2020 were quoted at $5.58 per bushel, up 3.25 cents, or 0.58%, compared to the previous close. Contracts with delivery in March 2021 were traded at US $ 5.65, a gain of 2.75 cents, or 0.48%, compared to the previous closing.

Average price up by $9/mt compared to the last week, when $233.80/mt FOB and $249.35/mt CFR were both reported from Russia and Poland respectively.