Milling Wheat The market in the Black Sea is under pressure in sympathy with the U.S. wheat market. Last week, the Egyptian GASC purchased 115,000 MT of U.S. SRW at $259.75; the cheapest offers for Black Sea wheat were about $20 higher on a FOB basis and $10 higher on a CNF basis.Russian wheat exports have already reached a record 18.5 MMT by mid-April and will certainly exceed 21 MMT before the end of the campaign. The Russian government sold 427,000 MT of grains (of which about 350,000 MT were wheat) via intervention tenders that started last week. The government's objective is to sell 2 MMT of grains from the reserve stocks in order to keep the domestic prices down without having to implement any export restrictions.It is still too ea...