Prices for wheat from Russia began to grow actively
Market & Price Trends
Published Nov 29, 2023
The demand for wheat from importers and a decrease in supplies due to bad weather have caused export prices for Russian wheat to increase. Despite the increase in price, Russian wheat remains the cheapest on the market compared to French and German wheat. The forecast for wheat shipment from Russia in November has been reduced, but it is expected to recover in December if weather conditions improve.
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This is happening, among other things, under the influence of increasing demand from importers Export prices for wheat from the Russian Federation began to actively grow under the influence of increasing demand from importers and a decrease in supplies due to bad weather, the Rusagrotrans analytical center told Interfax. Thus, wheat (protein 12.5%) with delivery in December rose in price by 5 dollars/t over the week, to 235 dollars/t (FOB), with delivery in January - up to 241 dollars/t. However, as experts note, Russian wheat still remains the cheapest on the market. Thus, the price of French wheat is $248/t, German wheat is $252/t. As the center reported, last week four tenders were held for the purchase of wheat from countries such as Algeria, Tunisia, Jordan (milling wheat) and South Korea (feed wheat). Tunisia purchased 100 thousand tons of wheat for delivery from December 20 to January 20 at $278.95-279.69/t (C&F), which is $10/t higher than at the tender at the end of ...