Analysts at "RusAgroTrans" have raised their forecast for wheat exports in October.

The analytical center "RusAgroTrans" has raised its forecast for wheat exports in October by almost 0.5 million tons, to 5.65 million tons, which is lower than last year (5.98 million tons) but higher than the five-year average (4.79 million tons). From October 1 to October 27, about 4.9 million tons of wheat were shipped to foreign markets. In November, supplies may amount to 4.6-5 million tons against 3.53 million tons a year earlier and 4 million tons on average over the past five years for this month. Last week, prices for Russian wheat with 12.5% protein and November delivery remained at $229/ton FOB. Argentine wheat became cheaper by $7, to $208/ton, while American wheat increased by $1, to $228/ton. Prices for European and Australian wheat remained at last week's levels. The wheat market is growing, but there are still no fundamental factors to support it, note the analysts at "RusAgroTrans." The strengthening of wheat futures was due to the closing of short positions by ...