Export prices for wheat of the new crop fell to the level of August 2021; March export forecast increased in Russia

Published 2023년 3월 17일

Tridge summary

Russian wheat export prices have weakened, with March-April prices dropping to $285 per ton FOB, while American and French wheat also saw price drops. The forecast for Russia's wheat exports in March 2023 has been increased to 4.5-4.6 million tons, with the country potentially exporting 55-60 million tons of grain in the 2022/23 season. However, the prospects for a grain deal are still uncertain, and prices for domestic wheat in deep water ports have decreased due to high stocks and moderate demand. In other news, Ukrainian wheat won a tender in Egypt, and Saudi Arabia purchased 1.043 million tons of wheat from Russia for delivery in July-August.

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

Original content

“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. 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 ...

Source: Zol