Russia's wheat export prices continue to rise

For four weeks, prices for Russian export wheat have been rising. This development is supported by possible export restrictions by the plant health service.
The agency is threatening to close at least 30 grain loading stations in the export region of the Black Sea in southern Russia for phytosanitary reasons. Some market participants see this announcement as an attempt to restrict exports.
The price of Russian export wheat with 12.5% ​​protein was $ 228 / ton fob last Friday. That was $ 4 more than the week before.
Traders report that regional offices of the regulator carry out additional quality controls because deliveries to Turkey, Jordan, Israel, Nigeria and Sudan have been criticized. Now all grain exports are to be more strictly controlled.
Some Russian traders expect no export restrictions before December; This is also generally the market expectation and confirm the hitherto high export volumes. The last call for tenders from Egypt for the purchase of 180,000 tonnes of common wheat is, without exception, from Russia. The delivery date is 1 to 10 December.
Russian grain exports accelerated once again last week. Russia has exported 15.7 million tonnes of grain since 1 July to 4 October. An increase of 26% over the same period last year. The amount includes 13.5 million tonnes of common wheat.

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