The prices for Russian export wheat rise now in the fourth week in a row, because farmers there want to give off the top qualities to the current low price levels. You feel vindicated in their stance by the weather-related crop losses in Europe.
Black Sea wheat from Russia with 12.5% protein cost at the end of last week, 170-175 USD/ton fob. These are 2 to 4.5 USD/tonne more than in the previous week.
The SovEcon consultancy but expected the offer from agriculture increased soon, because farmers need money for the purchase of equipment to order the seeds of winter. Soon there is a bottleneck in the storage capacity.
Russia Ministry of agriculture expects a harvest of 110 to 116 million tonnes depending on the weather conditions in 2016. Of 40 million tonnes exported in the marketing period 2016/17, which was launched on July 1. So far already 3.6 million tons abroad are been loaded, of which 3 million tons of wheat.
Prices for wheat on the local market rose in the European part of Russia to 75 rubles per tonne on 9.675 roubles per ton (150 USD/tonne) from the farm.
