Analysis: Prices for Russian wheat are stable

Prices for Russian wheat with 12.5% protein for December delivery remained at the previous week's level of $227-228/t FOB. French wheat increased to $227/t (+$2/t), while Romanian wheat decreased to $232/t (-$2/t) and Ukrainian wheat to $229/t (-$1/t). The price for American wheat strengthened to $237/t (+$1/t), while Argentine wheat remained at the previous level of $209/t. On November 26, Turkey (TMO) contracted 300,000 tons of Russian wheat without a tender, presumably at $250-251/t C&F for December delivery. Converted to FOB Novorossiysk, the price was $227-228/t, which corresponds to the current market. On November 28, Tunisia purchased 75,000 tons of barley at $268.42-269.58/t C&F for delivery between January 5 and 25. Converted to FOB Novorossiysk, the price was $231-233/t. The Australian Bureau of Agricultural and Resource Economics ABARES increased the forecast for the 2025/2026 wheat crop in Australia by 1.8 million tons to 35.6 million tons (34.1 million tons in the ...