MOSCOW: Last weeek export prices for milling wheat in Russia continued to grow. Another strengthening of crude oil, as well as Russian ruble supported export prices.
Over the week export prices for wheat with 12.5% protein have strengthened by USD 1-2 and reached USD 190-195/MT FOB for May and June delivery in the Novorossiysk port. In the Azov port price increase is more significant – about USD 3-4. The demand from key importers for Russian milling wheat remains stable.
Prices have strengthened slightly on the domestic market of Russia. Over the week the prices for milling wheat with 12.5% protein have increased on average by RUB 100/MT and reached RUB 12100-12500/MT in the Novorossiysk port. Traders continue to raise their demand prices to attract large parcels.
A significant increase in prices was noted in feed grain market. Corn has shown the most significant growth in the export market. Strengthening of ruble and the world market, as well as record export shipments of Russian corn, support prices.
