Russian wheat is cheaper on record-high on-farm stocks. Will this convert into aggressive exports in 21/22?
Russian wheat tumbled on higher supply from farmers amid approaching new crop and record-high on-farm stocks.
Why Russian wheat is not competitive today
Egyptian GASC is holding a new wheat tender today for 8-22 August shipment. It looks like Romania and perhaps Ukraine could be the winners today. Why Russian traders are cautious sellers?
Russia’s wheat prices higher, the market talks about low stocks
12.5% wheat prices in Russian deep-sea ports rose by $4 to $274/mt. The Black Sea follows the rest of the world where prices continue to rise reflecting the tightness of 2020/21 global grain S&D.
Global grain market higher supported by weather
The rally in grains continues. After a very strong week, corn and wheat are sharply higher on Monday again, gaining 3-4%. The market is supported by weather issues all over the globe.
Black Sea wheat higher; Russia-Ukraine tensions remain on the agenda
12.5% Russian wheat prices in deep-sea ports rose $3 to $247/mt FOB last week. This is the first increase in prices after the sell-off which started in early March.
Black Sea wheat moved lower again but global benchmarks are on the rise
12.5% wheat prices in Russian deep-sea ports dropped $4 to $244/mt. The market was under pressure of weak demand which can increase short-term thanks to higher global benchmarks.
Black Sea wheat sharply lower on new crop prospects, Russian farmers hope that the tax will be lifted in 2021
Last week, 12.5% wheat prices in deep-sea ports dropped $21 to $253/mt. Traders continued to report extremely low demand, global benchmarks moved lower.
Black Sea wheat prices lower on weak demand and good weather
Russian wheat prices in deep-sea ports dropped $9 to $274/mt (12.5%, FOB) on lack of demand and weaker global benchmarks
Black Sea wheat prices lower on improving weather
Weather improves in the Northern Hemisphere pushing Black Sea wheat prices lower
Russia: share of wheat in poor condition has fallen unprecedentedly
Share of Russia’s grain crops in poor condition has fallen to 7-9% since November when it was at 22%, a record high level for a decade.