📉 Increase in Russian Wheat Prices: Export Quotes Hit Highest Since June

 

🔹 Export prices for Russian wheat with 12.5% protein content reached $222-224 per ton FOB, the highest level since June this year.

🔹 In the first two months of the new season, Russia exported 9.5 million tons of wheat, ranking second after last year’s record.

🔹 The forecast for wheat exports this season is 47.6 million tons, which is lower than last season’s 52.4 million tons.

Last week, prices for Russian wheat with 12.5% protein content increased by $3 per ton, reaching $222-224 per ton FOB, the highest since late June this year. According to analysts at SovEcon, the price increase was driven by rising exchange prices and active grain export activity.

 

Experts noted that, since the beginning of the new agricultural season, Russian wheat prices have hovered around $220 per ton FOB and did not exceed $221 per ton. However, traders report that prices reached $230 per ton this week. Analysts believe that Russian wheat export prices may have bottomed out.

 

Furthermore, Russian wheat exports are proceeding at a fast pace. In the first two months of the new season, 9.5 million tons of grain were shipped, the second-highest result after last year’s record volume.

 

SovEcon forecasts wheat exports for the current season at 47.6 million tons, lower than the previous season’s 52.4 million tons.