The price of Platts Milling Wheat at its lowest level since mid-September amid low demand.

HIGHLIGHTS The Platts futures index for food wheat fell to its lowest level since mid-September, reaching $227.50/t for deliveries from late December to the first half of January on December 1, as sellers continue to lower their offers. In November, the average MWM price was $230.75/t, which is 25 cents/t less than the October average, reports oilworld.ru citing S&P Global Platts. Launched in June, the MWM index reflects prices in the largest wheat export region – the Black Sea region – and is formed daily based on the most competitive quotations of Russian wheat with 12.5% protein, normalized Ukrainian wheat with 11.5% protein, and CVB wheat with 12.5% protein FOB. In November, the MWM index generally corresponded to Russian wheat. In December, Russian exporters are monitoring CPT prices, which have fallen to 15,000–16,000 rubles per ton, and the strengthening of the ruble (currently the exchange rate is about 77 rubles per US dollar), which has played a significant role in ...