Analysis: Export prices for Russian wheat remain at $232/t

Prices for Russian wheat with 12.5% protein for delivery in November-December remained at $232/t FOB. American wheat increased to $238/t (+$3/t), Ukrainian to $229/t (+$1/t). Prices for French and Romanian wheat did not change significantly, standing at $229/t and $234/t, respectively. The U.S. wheat market last week reached several-month highs amid optimism about the restoration of trade between the U.S. and China, and then began to decline. So far, China's purchases of American agricultural products are below market expectations. European wheat quotes changed insignificantly. Last week, China purchased 120,000 tons of American wheat for delivery in December, and also announced the restoration of licenses for three American companies to supply soy. The Egyptian state buyer Mostakball Misr acquired about 500,000 tons of wheat for delivery in December-January, including 200,000 tons from Russia, with the rest from Eastern European countries. Negotiations are also underway for the ...