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Russia
Russian wheat prices push higher again supported by export tax
Last week, 12.5% wheat prices in deep-sea Russian ports rose $2 to $303/mt, the new seven years high. Russian wheat continues to lose its competitive edge but hardly predictable export tax doesn’t allow exporters to lower prices.
Russian wheat prices hit 7 years high
Prices for Russian wheat with 12.5% protein at the end of last week have strengthened by $3 to $301/mt FOB deep-water ports. This is the highest price level since April 2014.
Russian wheat ruble prices lower, harvest pressure at last?
Last week, domestic wheat prices dropped in Russia by 1.5%, which was the fist decline after several weeks of rapid growth.
Russian wheat prices higher but buyers started to lower ruble bids
Last week, 12.5% wheat prices in Russian deep-sea ports rallied further, by $13 to $299/mt supported by firmer ruble prices. Earlier rally in the global benchmarks also helped. Closer to the end of the week many buyers started to lower bids hoping that the ruble market could reverse soon.
Black Sea wheat price rallied after WASDE
Russia’s domestic wheat market is rising fast, supported by demand from exporters and domestic buyers as well as worsening crop outlook. This could negatively affect wheat exports pace during the next few months from the top world wheat exporter.
Ruble wheat prices rise rapidly threatening exports
Russia’s domestic wheat market is rising fast, supported by demand from exporters and domestic buyers as well as worsening crop outlook. This could negatively affect wheat exports pace during the next few months from the top world wheat exporter.
SovEcon cut Russian wheat crop to 76 mmt, USDA’s forecast – 85 mmt
SovEcon cut Russia’s wheat crop forecast from 82.3 mmt to 76.4 mmt. The main reason is the substantially smaller winter wheat area reported by Rosstat.
Russian wheat prices up substantially
Prices for Russian wheat rose steadily last week. Export quotes for wheat with protein 12.5% strengthened by 2.5% to $245/t FOB
Russian wheat crop outlook worsens on hot weather
Outlook for Russian wheat crop worsens. SovEcon cut 2021 crop estimate from 84.6 mmt to 82.3 mmt two weeks ago, USDA lowered its estimate by 1 mmt to 85 mmt a week ago.
Russian wheat prices tumbled on bumper crop expectations but starting yields don’t confirm them
Last week, 12.5% wheat prices in Russia’s deep-sea ports tumbled $12 to $234/mt FOB. This was driven by weaker global benchmarks and expectations of the bumper crop.