New crop Russian wheat prices are rising following global benchmarks. As of June 5, 12.5% wheat with July delivery is traded around $197/mt (FOB deep sea ports) which is around 9% higher than a month ago.
Russian FOB wheat prices were declining in April. As of the end of the month, 12.5% wheat with the nearest delivery is traded around $218-219/mt. This is 3.5% lower than at the beginning of the month.
At the beginning of April, Russian wheat prices stabilize after a sharp sell-off in March. As of April 8, prices for 12.5% protein wheat (FOB deep sea ports) stood at $226/t.