Russia: Wheat export price rises again

Russia's wheat export prices rose for the third year in a row last week. The strong demand from top exporters such as Turkey supported the trend. Russian wheat with 12.5% protein loaded at Black Sea ports for delivery in September rose to $ 224 / ton FOB late last week, up $ 8 from the previous week, reports agricultural consultancy IKAR. As of Monday, prices rose further to $ 227. SovEcon, another agricultural consultancy based in Moscow, reports a price increase of $ 8 to $ 222. The price of barley rose $ 3 to $ 118 / ton. "Russian wheat is gradually losing its competitive advantage after the recent rally," said SovEcon, referring to the competition between Russian and French wheat. Wheat exports from Russia are expected to reach 5.1 million tons in September, a record level for this month, according to SovEcon. It rained in the southern regions of Russia last week. A relief for farmers who sow winter wheat for the 2021 harvest, as the soil lacks moisture. It will probably be dry again in the next two weeks.

Hansa Terminhandel GmbH
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