Russian wheat prices remain a key benchmark for global grain markets. According to the latest data from the Rusagrotrans analytical center, the price of Russian wheat with 12.5% protein for May delivery holds steady at $239 per ton. Furthermore, port values have moved upward, and competing origins are also seeing gains. Therefore, the current market snapshot is worth examining in detail.
Global Wheat Price Comparison: Competing Origins Rise
Meanwhile, prices for wheat from competing countries increased. According to analysts, American wheat rose by $4 to $255 per ton. Additionally, French wheat climbed by $1.50 to $234 per ton. Argentine wheat with 11.5% protein gained $2, reaching $231 per ton. Moreover, Australian wheat jumped by $7, to $266 per ton.
Rusagrotrans analysts provided the following commentary on market drivers:
“The US wheat exchange market strengthened last week, and prices on the physical market also rose. The condition of winter crops in the US has stabilized, but remains poor: 70% of the country’s winter wheat acreage is affected by drought, and crops have also suffered frost damage. Meanwhile, spring wheat sowing in the US is lagging behind average levels and is significantly below expectations. In Russia, spring wheat sowing is slowing due to cold and rainy weather in the center,” Rusagrotrans noted.
Russian Wheat Prices at Deep-Water and Low-Water Ports
At Russian deep-water ports, the price of Class 4 wheat with 12.5% protein increased by 400 rubles for truck shipments, to 16,200–16,500 rubles per ton. Similarly, rail shipments rose by 300 rubles, reaching 16,200–16,400 rubles per ton.
At low water, prices also strengthened. Specifically, they gained 100 rubles, reaching 15,100–15,300 rubles per ton.
Domestic Russian Grain Prices: Regional Breakdown
The domestic market remained mostly up as well. Below is a regional overview:
- South: Grade 4 wheat (12.5% protein, EXW elevator) increased by 150 rubles, to 14,500–15,000 rubles per ton excluding VAT.
- Southwest Volga region: Prices rose by 200 rubles, to 11,800–12,700 rubles per ton excluding VAT.
- Central Russia: Prices remained unchanged at 12,600–13,900 rubles per ton excluding VAT.
- Siberia: Grade 4 wheat costs 10,200–11,000 rubles per ton, an increase of 50 rubles.
Furthermore, analysts commented on the near-term weather outlook for Russia’s growing regions:
“This week, low temperatures will hinder spring sowing in Central Russia, followed by the return of rains next week. However, a return to normal temperatures for early May, coupled with ample moisture reserves, will be favorable for the development of winter crops,” the analysts emphasized.
In conclusion, Russian wheat prices are holding firm at $239 per ton for 12.5% protein wheat. Meanwhile, port values are rising and domestic regional markets are mostly trending upward. Consequently, traders and buyers should monitor these developments closely as the spring sowing season progresses.
Source: Zerno On-Line (Russia)