15.
10.18
14:05

Russia's export wheat prices have been rising for 5 weeks

Russian wheat export prices rose again at the end of last week. It is already the fifth week with higher export prices. Market participants are annoyed and unsettled by frequent inspections by the supervisory authorities.
The monitoring officer Rosselkhoznadzor has criticized in recent weeks in its quality controls more frequently the quality of export wheat. In recent years, the Authority has restricted exports by such measures.
Prices for Russian export wheat with 12.5% ​​protein and October delivery were $ 232 / ton fob on Friday. In the week before such a wheat still costs 228 USD / ton.
Rosselkhoznadzor informed exporters last week that buyers were increasingly complaining about the quality delivered and that grain quality standards were suffering. Thus, additional checks can be expected.
Although market participants are annoyed, they do not expect a closure of loading facilities.
On Thursday of last week, market analyst SovEcon raised its crop estimate by 700,000 tonnes to 109 million tonnes of grain.IKAR even expects 110.5 million tons.
Russia's farmers harvested 108.7 million tonnes of grain from 95% of the area under cultivation by 12th October according to the Russian Ministry of Agriculture. By October 11, Russia had exported 16.7 million tons of grain in the season since July 1. Of that total, 14.4 million tonnes were wheat. That was 24% more than the same date last year.

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