Analytics: prices for Russian wheat have risen to a 2-month maximum

Prices for Russian wheat with 12.5% protein with delivery in February rose to a 2-month maximum of $231/t FOB (+$3.5/t from the previous week). The price for American wheat strengthened to $229/t (+$2/t), French to $232/t (+$2/t), Romanian to $234/t (+$1/t). Ukrainian wheat remained unchanged at $227/t, German wheat decreased to $239/t (-$3/t). Tunisia on January 28 purchased 100,000 tons of soft wheat and 100,000 tons of durum wheat with delivery from February 25 to March 30. The average purchase price for soft wheat 11.5, converted to FOB Novo, was $225/t, for durum - $289/t. Jordan on January 20 contracted for 60,000 tons of wheat, the purchase price in FOB Novo terms would be $221/t. The exchange market strengthened last week amid abnormal frosts in the USA and Russia. The frosts are unlikely to cause severe damage to winter crops in the USA. However, drought is intensifying in the southern Great Plains. In addition, the US export market is supported by the weakening of the ...