World Perspectives
wheat feed-grains soy-oilseeds

Southeast Europe Regional Analysis

Milling Wheat The Black Sea market was again stable last week. Russia finally received some long-awaited rains, and wheat conditions there have improved. Its exports will certainly reach 25 MMT before the end of the calendar year, and estimates of the final total are still within a wide range of 28-35 MMT. The volume of exportable surplus remaining after the New Year will be key to the price direction in coming months. Saudi Arabia’s SAGO bought 495,000 KMT of optional origin (excluding Black Sea) for January-March delivery at an average price of $267.85/MT, significantly lower than the previous tender of two months ago. Argentina is the cheapest origin on paper, but the quality is uncertain following the recent excessive rains ther...

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