Export prices for Russian wheat continue to decline

Export prices for Russian wheat decreased last week, the Rusagrotrans analytical center told Agroinvestor. Thus, the price for delivery in July amounted to $231.5/t FOB, which is $2.5 lower than the previous week, and $23.5/t less than at the beginning of June and corresponds to the level of last year. Prices for French wheat fell to $239/t, German wheat to $244/t, and American wheat to $229/t. The decline in prices is due to competition from the new wheat crop from Eastern Europe and Ukraine, despite a forecast decline in harvests and exports in most EU-27 countries and Ukraine, analysts noted. Prices for wheat with 12.5% protein in deep-sea ports began to rise after a two-week fall and reached a level of 16.5-17 thousand rubles/t excluding VAT. Last year prices were 14.8 thousand rubles/t. The domestic wheat market weakened in the South and Volga region, while in the Center and Siberia prices remained at the previous week's level. In the South, prices dropped to 13.6-14 thousand ...