Russian wheat export prices were stable last week as the rouble strengthened, which was supported by higher oil prices and seasonally limited supply, analysts said on Monday. Wheat of the Russian origin lost another important purchase tender by Egypt's state grain buyer GASC last week as it was more expensive than Romanian and Ukrainian wheat. Egypt has been the largest buyer of Russian wheat in recent years. Black Sea prices for Russian wheat with 12.5 percent protein content for delivery in April were $225 per tonne on a free on board (FOB) basis at the end of last week, unchanged from a week earlier, Russian agricultural consultancyIKARsaid.. Read more...
Russian wheat export prices fell again last week, weighed down by forecasts for a relatively strong next harvest, as well as a strengthening rouble, analysts said on Monday. Black Sea prices for Russian wheat with 12.5 percent protein content and for delivery in April were $222 per tonne on a free on board (FOB) basis at the end of last week, down $4 from a week earlier, Russian agricultural consultancyIKARsaid in a note. “Prices are falling against the backdrop of the new harvest, which is forecast to be quite good. So there will be an even more noticeable fall then, I think,”IKARanalyst Dmitry Rylko said. SovEcon, another Moscow-based consultancy,. Read more...
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