"The time of cheap wheat have passed," — said one of the Russian traders, indicating a General upward trend in the market.
Export prices for Ukrainian wheat with protein 11.5% of the increased to $192-193 per tonne on FOB basis amid strong demand, according to the Agency Latifundist.com. The newspaper reminds that in Ukraine the producers of flour and wheat cereals have to compete with traders in grain procurement, and in spite of a substantial surplus of raw materials required to make enough effort to generate the necessary volume to work.
"The sharp rise in export quotations hampers the formation of forward prices for wheat on the part of suppliers," traders said.
According to the report, proposals for the supply of wheat with a protein of 12.5% from Russia increased to $195-196 per ton on FOB deepwater ports of the black sea coast with delivery in early November.
Analysts inform that Russian exporters continue to face great difficulties in the procurement of grain on the domestic market and are forced to raise procurement prices to encourage farmers to sales of grain. The company is not ready to discount the grain with supplies for exports.
Amid rising export prices for wheat began to grow and prices in Russian ports. Last week the maximum declared value of demand rose to 11400 RUB/t RUB against 11200/ton a week earlier, it follows from the monitoring of "Sovekon".
Translated by service "Yandex.Translation"