Grains - Grain Products

Wheat: surge in prices

January 13, 2021 9:43 AM, Der AUDITOR
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CHICAGO/PARIS. Wheat prices have surged in France, Germany and the Netherlands. Rumour has it that Russia's intended export tariffs will far exceed expectations. Egypt has, meanwhile, cancelled the most recent tender.

Prices are up
Wheat is trading EUR 5.00/mt higher in Fance, the Netherlands and Germany. Wheat bran and flour are also more expensive. Issue is that traders in Russia reckon that the new export tariffs for wheat will not range at EUR 25/mt but rather at EUR 50/mt as of mid-January. Some buyers, however, already refuse to accept the currently high prices. Egypt's GASC authority, for instance, withdrew the most recent tender on Tuesday after rejecting bids from Romania and Russia ranging as high as as USD 292.97/mt and USD 315.03/mt FOB respectively. Japan, however, purc

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