World Perspectives
feed-grains soy-oilseeds wheat

Southeast Europe Regional Analysis

Milling Wheat The Black Sea market was again little changed last week. Russia’s domestic prices as well as the ruble remained stable. Its new crop 12.5 pro wheat is offered at $198/MT FOB Novorossiysk, which is about $12/MT below the old crop offers (April and May). The EU reported only 108,000 MT were exported last week, bringing the cumulated total to 14.1 MMT versus 18.2 MMT at the same time last year. At current prices and with Russia’s current export pace, EU exports will probably not exceed 20.5 MMT this year (against 24.1 MMT last year); most analysts’ estimates were around 24-25 MMT at the start of the campaign. Consequently, the 30 June ending stocks are expected to be quite heavy, especially in France. Tunisia...

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feed-grains soy-oilseeds wheat

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Illuminating the value of technical research

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