Stable Russian wheat prices

The prices for Russian export wheat last week were stable, after they had risen ten weeks as a result. Stormy weather in the loading ports on the Black Sea, as well as any export restrictions following the outbreak of African swine fever supported the price level.
Black Sea prices for Russian export wheat with 12.5% for December delivery cost late last week of 184 USD/tonne fob, so gene out much as in the previous week.
Between 1 July and 30 November 2016, Russia exported 16.8 million metric tons of grain; they were 0.7% more than in the same period of the previous year. Of them were 13.2 million tons of wheat, so the Russian Ministry of agriculture.
Class III on the local market wheat prices rose by 50 rubles per tonne in the previous week to 10,725 rubles per tonne in the European part of Russia. A hesitant delivery readiness of the producers was the reason for the increase. Also, consumers are begin to replenish their inventories in the country prior to the turn of the year and continue to support the market.
In the Russian South, in the Krasnodar region, restricted areas established for the pigs, so that the African swine fever is not more widespread. The local quarantine authority had recommended even banning transport of grain.
However, that would cause that the fulfilment of export orders will be difficult as Krasnodar is one of Russia's most important export.

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