The price of Russian wheat has begun to recover

Prices for Russian wheat on the world market began to rise due to fears of a reduction in supplies amid bad weather in the ports of the Azov-Black Sea basin and increased demand from importing countries, Interfax reports, citing data from the Rusagrotrans analytical center. Analysts note that the cost of 12.5% protein wheat for December delivery increased by $5 to $235 per ton FOB, and for January delivery to $241 per ton FOB. At the same time, Russian grain is still trading at a discount to European grain, experts say. The cost of wheat from France is now $248 per ton, and from Germany it reaches $252 per ton. Demand from importers is growing, as evidenced by the holding of four tenders last week. Algeria, Tunisia and Jordan purchased milling wheat, and South Korea purchased feed wheat. “Tunisia purchased 100 thousand tons of wheat for delivery from December 20 to January 20 at $278.95-279.69 per ton (C&F), which is $10 higher than the tender at the end of October. The price ...