Export bid prices for Russian wheat continued to decline

Published 2024년 11월 6일

Tridge summary

Last week, the export bid prices for Russian wheat with 12.5% protein for November delivery saw a decrease of $5, settling at $227/t FOB. Meanwhile, the prices for French, German, and American wheat also declined. Algeria, Jordan, and Tunisia made purchases from Eastern Europe and the Baltics, while Egypt secured 290,000 tons of wheat from Ukraine, Romania, and Bulgaria. In the Russian market, prices for wheat in deep-water ports slightly increased, while low-water prices saw a decrease. Additionally, prices for 4th class wheat in Central Russia rose, whereas in the South and the Volga region, they remained stable.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Export bid prices for Russian wheat with 12.5% protein for November delivery fell by $5 last week to $227/t FOB, the Rusagrotrans analytical center told Agroinvestor. At the same time, bid prices were formed at $230-235/t. The price of French wheat weakened by $1 to $242/t (-/t), German and American wheat fell by $4 to $249/t and $257/t, respectively. The wheat exchange market changed little last week. Algeria purchased 480,000-600,000 tons of wheat from Eastern Europe and the Baltics for delivery in December, Jordan — 60,000 tons, probably Romanian wheat for delivery in the first half of January, Tunisia — 75,000 tons of durum for delivery from November 20 to December 25. This week, Egypt (GASC) purchased 290,000 tons of Ukrainian, Romanian and Bulgarian wheat at $273-275.3/t C&F ($252.5-261/t FOB) for delivery from November 25 to mid-December. In terms of FOB Novorossiysk, excluding additional costs, the purchase price was about $232/t, which corresponds to demand prices for ...

Source: Oilworld