Romanian wheat prices rise more slowly than MATIF amid expectations of a rerouting of Ukrainian export flows
Last week the grain prices in the EU ports rose significantly due to the drop in the Sea of Azov export flows and disruptions of shipments from POC, Ukraine ports. Matif milling wheat (nearest delivery) rose by almost EUR 25/mt to EUR 229.5/mt, which is higher than the EU physical prices.
Romanian milling wheat (12%) gained about USD 5/mt w/w to about USD 240-243/mt FOB Constanta, despite much stronger Matif.
Romanian market expects that Ukraine should redirect new crop export flows to neighboring countries by other means of transport. Significant pressure expected for Romanian logistics. Last week Romanian traders reported that Constanta port`s terminals are full and waiting for vessels, which are arriving late, the logistics even now looks complicated.
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