Prices for Russian export wheat are declining; reasons for the high offer
Wheat
Russia
Published Feb 4, 2023
Tridge summary
The wheat market is declining against the backdrop of high supply from exporters, according to the materials of the Rusagrotrans analytical center, available to the pole.rf magazine.
Original content
“Export prices for Russian wheat with 12.5% protein for delivery in February fell to $302 per ton FOB (-$3 versus the previous week). Given the low level of purchase prices at the GASC tender (Egyptian state agency for the purchase of food. - Approx. Ed.), The market is likely to drop below $300 per ton, ”experts believe. American wheat strengthened to $331 per ton (+$5), French wheat fell to $322 per ton (-$4). Egypt (GASC) purchased 535 thousand tons of Russian wheat at $322.8-325.8 per ton CNF for delivery from February 26 to March 20. In terms of FOB Novorossiysk, the average price was $297 per ton. Jordan (MITS) purchased 60 thousand tons of wheat (according to analysts, of Romanian origin) for delivery on June 16-30 at $336.5 per ton CNF (in terms of FOB Novorossiysk - below $300 per ton). A new tender will take place next week. Also, 50 thousand tons of barley were purchased at $302.3 per ton for delivery from June 16 to 30 (in terms of FOB Novorossiysk - $265 per ton). ...
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