IKAR in Mass and Industry Media

Russian wheat export prices extended rise

Reuters

MOSCOW: Export prices for Russian wheat rose last week amid continued adverse weather conditions for shipments in the Black Sea, analysts said.

The price of 12.5% protein Russian wheat scheduled for free-on-board (FOB) delivery in January was $236 per metric ton, up $1 from the previous week, the IKAR agriculture consultancy reported.

The Sovecon agriculture consultancy pegged the same class of wheat at $236-239 a ton FOB last week compared to $234-239 the week before. Russia exported 0.45 million tons of grain last week, down from 0.72 million tons the previous week. The exports included 0.37 million tons of wheat, compared with 0.56 million tons the previous week, Sovecon wrote, citing port data.

It lowered its estimate of wheat exports in November by 0.4 million tons to 3.4 million tons, compared with 4.3 million tons a year ago.

Harvesting of the 2023 crop is almost complete.

05.12.23

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