Russia. Wheat prices declined both in deep-water and small ports last week

Prices in the Russian wheat market closed the week with a decrease both in deep-water and small ports, reports UkrAgroConsult.

Export prices for Russian milling wheat closed the week down $1/MT at $192‑193/MT FOB for 12.5%-protein wheat and $186‑188/MT FOB for 11.5%-protein wheat, Novorossiysk port, November-December delivery. Over the week, Russian milling wheat prices in small ports decreased on average $2-3/MT to $158‑160/MT FOB for 12.5%-protein wheat and $147‑150/MT FOB for 11.5%-protein wheat, November-December delivery.

Prices are pressured by the global market situation and sufficient wheat supply from Russia against the background of somewhat weakened demand from importers. This past week featured difficulties with grain shipments via Russia’s deep-water ports due to adverse weather, but the situation improved toward the weekend. This will have no considerable impact on October’s total of Ruissian grain exports.

Purchase prices in the domestic market have not changed. They keep stable in most regions.