Source: Demetra-Holding Group (Russia)
The prices for Russian wheat intended for export and scheduled for delivery in March have stabilized at $252 per metric ton FOB.
Prices for grade 4 wheat with 12.5% protein at deep-water ports have remained consistent with last week, ranging from 18,000 to 18,200 rubles per ton FOB. Rail transport to Novorossiysk shows prices of 18,800 to 19,200 rubles per ton, reflecting a decrease of 150 rubles per ton.
In February 2025, wheat exports inclusive of EAEU nations reached a total of merely 1.9 million tons, marking the lowest figure for this month over the past five years. The previous low was recorded in February 2020 at 1.93 million tons.
The expectation for wheat exports in March 2025 suggests numbers will likely mirror those of February, estimated at between 1.5 and 1.7 million tons. This would represent the lowest figures since March 2021 when exports totaled 1.02 million tons. The significant drop in exports is attributed to severely negative returns experienced by exporters amid prevailing domestic supply prices and external demand.