The price of Russian wheat, which rose from $230 to over $240 per ton last week, may rise further to $250-260 per ton. It has been reported “Kommersant”.
The publication states that the wheat export from Russia may set a new record in the current season.
Publishing on Russian and world agricultural markets, Sovecon believes that this season’s wheat exports from Russia may break a record. This will be affected by the expected decline in Ukrainian and Australian wheat supplies, which will support Russia’s exports in the new season.
According to one of Kommersant’s interlocutors among major exporters, the increase in the foreign exchange price will translate into the cost of real contracts, and Russian wheat will be cheaper than European wheat and maintain its competitive advantage even if prices rise.
Prior to that, the UN Coordinating Center for the Grain Agreement declarationNot a single ship has been sent with Russian fertilizers since the start of the grain deal on June 27, 2022.
As he reported “News”experts predicted the growth of the Moscow Stock Exchange index at the beginning of autumn.
Last ship previously covered by grain agreement left Black Sea.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.