26aug

According to the data of the Russian Ministry of Agriculture the export of the Russian wheat from the beginning of the agricultural year 2021/2022 and up to August 19th, 2021 decreased by 25,8% in comparison to the same period of the last season. "The main constraining factor is the limited supply of wheat from agricultural producers, who expect further price increases and are holding back sales". — the Chairman of the Board of the Union of Grain Exporters Eduard Zernin shared his opinion. 

At the same time, export prices for Russian wheat continue to rise. Thus, the price of Russian wheat with 12.5% protein by August 19 was about $300 per ton FOB, while a couple of weeks ago it was fluctuating about $268 per ton. The reason is the deterioration of forecasts for the grain harvest around the world and, as a result, the rise in prices on the world market. Consequently, grain prices within the Russia are also rising. "Agricultural producers are still holding back sales, while traders need grain for upcoming deliveries", - reports the alalytical agency Sovecon.

Source: Agroinvestor