Egypt purchased in the tender Russian wheat
At yesterday's tender, the Egyptian GASC bought 120 thousand MT of soft Russian milling wheat for delivery 11-20 August. Russian wheat was offered at a price 202-207 $/t, and the Romanian – 204-208 $/t FOB. In the end, GASC bought Russian wheat at 201,95 $/MT FOB with freight rate of 15.55 $/t, which corresponds to 217,5 $/t C&F destination port. On FOB basis, the price was $2/t lower than at the previous auction, but delivery was less than 0.6 $/t
According to analysts SovEcon, during the week the price of Russian wheat with protein of 12.5% on FOB fell by 5 $/t to 197,5 $/t. Traders cut prices after the world market, as I see no problems with yield or quality of grain. Even in the event of reduced production in 2018, Russia will remain a strong exporter of wheat.
On June 20, Russia exported 51.2 million tonnes of grain, which is 47% higher than in the same period of the previous my.
compared with last season, exports increased:
barley – 2 times to 5.7 million tonnes,
corn – by 13% to 5.6 million tons.
- wheat by 48% to 39.5 million tonnes,
In 2017, was raised a record 135.4 million tonnes of grain, including 85,9 million tons of wheat. Harvest in the current season the Ministry of agriculture estimates in the range of 100 million tons, experts IKAR – level 114,7 million tonnes (including 71.5 million MT of wheat), the Russian grain Union 107-110 million tons, Prozerno – 116 million tons (including 70 million tons).