Export prices for wheat of the new crop fell to the level of August 2021; March export forecast increased in Russia
Wheat
Russia
Published Mar 18, 2023
Tridge summary
“Export prices for Russian wheat with 12.5% protein for delivery in March-April weakened to $285 per ton FOB (-$7 versus the previous week). American wheat fell to $298 per ton (-$3), French - to $289 per ton (-$7). The price for June is quoted at about $280 per ton, and for a new crop - $270-275 per ton, this is the price level of August 2021,” the materials say.
Original content
The forecast for wheat exports in March 2023, including the EAEU countries, has been increased from 4.35 million tons to 4.5-4.6 million tons. “In the first half of the month, about 2.2 million tons were shipped,” Rusagrotrans analysts say. The previous record was set in March 2018 - 3.58 million tons. The historical record for the harvest in 2022 amounted to 157.676 million tons of grain in weight after completion (+29.9% compared to 2021), of which 104.237 million tons of wheat (+37%). According to estimates, Russia can export 55–60 million tons of grain in the 2022/23 season. "Grain deal" determines quotes Analysts state that wheat stock quotes are recovering this week after falling to lows since July 2021 a week earlier, since the prospects for a grain deal are still in doubt: Russia agreed to prolong the deal, but not for 120 days, as it happened earlier, but only for 60 - until May 17. “For the first time this season, Ukrainian wheat won at the GASC (Egypt) tender - 120,000 ...
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