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Competition on the world market lowers prices for black sea wheat
Last week, export prices for black sea wheat has continued to decline under the influence of strong competition on the world market and weak external demand.
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According to market operators, Russian wheat protein 12,5% often loses to the more attractive proposals for the supply of grain from the EU. The weakening of the Euro and the decline in stock prices make the European grain more attractive to importers.

"Foreign demand for wheat remains quite cautious amid the good deals," — stated in the message.

At the same time, sellers are not willing to drop in price. Russian export companies are limited to a fairly high level of domestic prices, the Ukrainian exporters and logistic difficulties.

Traders note that despite the relatively active shipment of wheat early in the season, the Ukrainian port terminals partly filled with wheat.

Weak external demand over the past few weeks did not contribute to their unloading, so receiving grain difficult.

Recall that export quotations of Ukrainian corn continues to be low due to sluggish demand and high competition in the market.




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Translated by service "Yandex.Translation"
Источники: IDK.Эксперт
Friday, 30 September 2022
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