Russia. Wheat export prices went down last week

Russian wheat export prices continued to go down last week (- USD 2/MT FOB), reports UkrAgroConsult.

The prices were under pressure of the following factors:

– reduction of wheat prices in the world market;

– increased competition among Black Sea exporters and European suppliers;

– limited demand from importers.

In the domestic market, traders began to cut their demand prices for wheat, since wheat export from Russia remains economically unprofitable, given the current level of export prices. Some part of Russian exporters switched to other agricultural crops trading, expecting some reduction of wheat prices in the domestic market, reports UkrAgroConsult.

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