17.
08.20
11:07

Russian export prices for wheat are falling again

Russian wheat export prices fell for the third year in a row last week, amid pressure from the new crop and signs that they may be higher than previously thought.
Russian wheat with a protein loading of 12.5% from Black Sea ports stood at $ 201 per tonne of fob at the end of August, a decrease of $ 4 from the previous week.
Both adviser ICAR and Sovecon have raised their estimates for the 2020 wheat crop in Russia in recent weeks, but both remain cautious about the outlook in the Urals and Siberia, which have been affected by the dry weather.
Corn was also affected in southern Russia, which makes up 50% of the country's sown area, SovEcon said. The main grain-producing regions in the European part of Russia are expected to remain largely dry this week.
Since the beginning of the 2020/21 season on July 1, Russia has already exported 4.5 million tons of grain, including 3.6 million tons of wheat, and exports are likely to accelerate further soon. Russia's grain exports in August are estimated at 4.9 million tons, up from 3.0 million tons in July.

Source
Hansa Terminhandel GmbH
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