Analytics: export prices for Russian wheat have strengthened

The global wheat market strengthened following exchange quotations. Prices for Russian wheat with 12.5% protein content for November-December delivery strengthened to $232/t FOB (+$3/t from the previous week). American wheat rose to a 4-month high of $235/t (+$7/t), French wheat to a monthly high of $229/t (+$3/t), and Argentine wheat to $209/t (+$1/t). According to preliminary data, Turkey purchased 250,000 tons of barley for delivery from November 10 to December 10. Purchase prices on a C&F basis were $257.9-262/t, which translated to $233-237/t FOB Novorossiysk. The U.S. wheat exchange market grew under the influence of a deal with China for soybean sales, as well as news of China's purchase of American wheat for the first time since the beginning of the year. U.S. Finance Minister S. Bessent reported that as a result of negotiations between Trump and Xi Jinping, China will purchase 12 million tons of American soybeans this season and 25 million tons in each of the following ...