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Export prices for wheat of the Russian Federation continued to decline in anticipation of new crop

Reuters, 30.06.20


MOSCOW (Reuters) – Export prices for Russian wheat continued to decline last week due to improving forecasts of the new crop and after the fall of quotations in the world markets.

Export prices for wheat of the Russian Federation continued to decline in anticipation of new crop

According to IKAR, the price of a ton of new crop wheat with 12.5-percent protein content and the delivery in August declined over the week to $197 from $199 FOB Novorossiysk.

SovEcon recorded a decline of $1.5 to $200,5 FOB.

“I have the feeling that the market expects a new crop of the countries of the Black sea region will further decline in wheat prices”, – stated in the review SovEcon.

Last week, IKAR raised its forecast for the harvest in 2020, and exports of wheat from Russia in the new season.



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