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Russian wheat export prices for 12.5% protein FOB delivery at end-January rose by $3 to $237 per ton, according to IKAR, while Sovecon put the range at $233 to $239. Analysts expected weak export activity ahead of the New Year holiday, with Algeria reportedly buying 1.17 million tons.
Higher Russian FOB offers raise the benchmark cost of wheat imports for feed buyers in import markets. Holiday-driven slow trade may limit further gains in the near term.
english.aawsat.comAsharq Al AwsatDec 29, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
