Source: APKinform (Ukraine)
Export prices for Russian wheat (12.5% protein) with an October-November delivery date rose last week to a four-month high since the end of July this year – to USD 232-233 per tonne (FOB), USD 6.5 more than in the previous week, Interfax reported on October 15, citing estimates from the Rusagrotrans AG analysis center.
Export prices continued to rise due to a wave of demand from importers. In addition, extremely dry conditions for winter sowing continued to prevail in the Russian Federation; the forecast calls for rain in the south, but no precipitation is expected in the center and in the Volga region in the next two weeks, the analysts said.
According to the Center, wheat prices (class 4, 12.5% protein) in the deep-water ports of the Russian Federation rose by 400 rubles to 18000-18200 rubles/ton (excluding VAT) during the week, while in the shallow-water ports they rose by 600 rubles to 17000 rubles/ton. Last year at this time the quoted prices were 15150 and 11600 roubles/ton respectively.
“The domestic wheat market has firmed up. Wheat prices (4th class, 12.5% protein, EXW Elevator) in southern Russia rose by 700 roubles to 16400-16800 roubles/tonne (ex VAT), in central Russia by 200 roubles to 13700-14300 roubles, in the Volga region by 500 roubles to 14100-14500 roubles/tonne. In Siberia, prices for 4th grade wheat remained around 9000-10500 rubles/ton (EXW elevator without VAT),” the experts added.