The Russian wheat price rise has resumed in May 2026, reaching its highest level since August 2025. According to Pole.rf, citing data from the analytical center of Rusagrotrans JSC, prices for Russian wheat with 12.5% protein content climbed to $242 per ton FOB for May delivery. Furthermore, this represents a weekly gain of $3 per ton. Consequently, this development is drawing close attention from grain traders and importers worldwide.
Russian Wheat Price Rise: FOB and Domestic Port Quotes in May
The Russian wheat price rise is clearly visible across both export and domestic price segments. At Russia’s deep-sea ports, prices for Class 4 wheat with 12.5% protein remained within the range of 16,200–16,500 rubles per ton for delivery by road. Moreover, for delivery by rail, prices also held steady at 16,200–16,400 rubles per ton. At shallow-water ports, price quotes remained unchanged at 15,100–15,300 rubles per ton. Therefore, domestic port prices showed broad stability despite the uptick in FOB export values.
May Export Outlook: Volumes Despite Seasonal Demand Decline
As a reminder, Rusagrotrans previously forecast grain exports for May at approximately 2.5 million tons. That figure is 19% higher than in May 2025, when exports totaled 2.1 million tons. Nevertheless, this growth comes against a backdrop of seasonal weakening in importer demand. Additionally, a shift in purchasing focus toward the new harvest is also affecting buyer behavior. Consequently, the strong year-on-year export comparison remains notable despite these headwinds.
Oilseed Sector: Sunflower Oil Duty and Processor Margins
Meanwhile, analysts at RUSEED assessed domestic price trends for key oilseed crops. Notably, according to OleoScope data, the reduction in the export duty rate on vegetable oil has restored processors’ margins to positive territory. Furthermore, OleoScope analysts calculate that, assuming the current dollar exchange rate holds steady, the projected export duty for June on sunflower oil and sunflower meal could amount to 4,676.4 rubles per ton of product. That represents an increase of 26.4 rubles compared to the rate set for May. Therefore, the oilseed processing sector is cautiously optimistic heading into the summer months.
Source: Oleoscope (Russia)