Source: Zerno On-Line (Russia)
Russian wheat export prices rise for 12.5% protein wheat delivered in April-May to $239 per ton FOB. Furthermore, this increase comes after prices had fallen to $237 per ton at the end of last week. The Rusagrotrans analytical center reported these figures.
Russian Wheat Export Prices Rise vs Global Market Trends
Global market trends show mixed movements this week:
- American wheat fell to $247 per ton (down $9);
- French wheat fell to $234.5 per ton (down $2.5);
- Argentine wheat rose to $227 per ton (up $3).
Meanwhile, domestic prices in Russia are declining amid a stronger ruble. Additionally, the analytical center provided the following data for deep-water ports:
- at deep-water ports for road delivery – up to 16,000–16,500 rubles per ton excluding VAT (down 350 rubles);
- for rail deliveries – up to 16,100–16,400 rubles per ton (minus 200 rubles).
Price Factors and Market Outlook
However, the contrast between rising export prices and falling domestic prices creates an interesting dynamic. Consequently, traders are monitoring currency fluctuations closely. Moreover, the ruble strength continues to pressure domestic grain values.