Good demand is also driving up Russian export prices for wheat

Russian export prices for wheat continued to rise last week. The demand from international buyers was good and the supply from agriculture is falling as farmers in many regions of Russia fear negative consequences for the harvest in 2021 from the current drought.
Export wheat with 12.5% protein, which is to be shipped via Black Sea ports in October, costs 245 USD / tonne fob last Friday.
The consulting firm SovEcon expects the winter wheat acreage in Russia to be restricted by 10-15%, as it is too dry for sowing in many locations.
In addition, grain traders in southern Russia complain that the authorities process the requested phytosanitary certificates far too bureaucratically and issue them with delays.
Russia's grain exports in October are expected to be 5 million tons, of which 4.3 million tons will be wheat.

Hansa Terminhandel GmbH
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