Russian export wheat price has been rising for three weeks

Russian export wheat prices rose for the third consecutive week last week. Farmers in the south of the country currently offer little grain.
Grain shipments from southern Russia, the second largest wheat exporter in the world after the EU, are making slow progress at the start of the new export season, which began on July 1st.
Traders are therefore increasingly looking for offers from the Volga and Black Earth regions. Prices are now rising there, while wheat bids in the Black Sea region tend to be under pressure. Traders emphasize that they have enough wheat available for the incoming ships.
Russian export wheat with 12.5% protein, shipped through Black Sea ports, cost $ 210 / tonne fob on Friday for delivery in August. That is USD 1 / tonne more than the week before.
While the grain harvest is progressing rapidly all over Russia, the grain from Central and Southern Russia shows increased moisture levels. However, it is still dry in Western Siberia and in the Volga region, where the yield of summer cereals is still increasing.

Hansa Terminhandel GmbH
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