World grain prices: wheat and rice are rising, corn is falling, while Russia is reducing customs duties.

World wheat prices vary: they have risen in Chicago, while changes are also observed in Kansas and Minneapolis. Prices for rice, corn, and barley are also fluctuating.

Russian export prices for grain are also changing: wheat has increased, barley has decreased, and corn has risen. Domestic purchase prices for wheat in Russia have decreased. New customs duties will be reduced from July 20.

19 October 2024

During the reporting week, from 14.07.22 to 21.07.22, world wheat prices showed different trends. The cost of Soft Red Winter wheat on the Chicago exchange increased to 806.25 cents per bushel (+1.51%), while the price of Hard Red Winter wheat on the Kansas exchange fell to 861.25 cents per bushel (-0.69%). Meanwhile, on the Minneapolis exchange, the price of Hard Red Spring wheat rose to 912.50 cents per bushel (+2.87%). The corn contract on the Chicago exchange collapsed to 575.75 cents per bushel (-17.16%). And the price of rice rose to $16.99 per hundredweight (+5.27%).

Russian export prices (FOB Black Sea) for wheat rose to $390.30 per tonne (+2.07%), barley prices fell to $316.20 per tonne (-5.02%), and corn prices rose to $324.10 per tonne (+9.57%). The new Russian wheat index, CPT Novorossiysk, decreased to 14196 rubles per tonne (-3.03%).

Prices for Russian wheat (12.5% protein, FOB Black Sea) for delivery in August 2022 rose to $360.75 per tonne (+$1.75 per tonne), and corn prices rose to $328 per tonne (+$1.25 per tonne).

Domestic purchase prices for 4th class wheat with 12.5% protein at the port elevators of the Black and Azov seas fell during the reporting week: in Novorossiysk - to 14000 rubles per tonne (-500 rubles per tonne), in Azov - to 12800 rubles per tonne (-1200 rubles per tonne), in Taganrog - to 12400 rubles per tonne (-1100 rubles per tonne), in Temryuk - to 13850 rubles per tonne (-750 rubles per tonne).

From July 20, customs duties will be reduced: for wheat and meslin - to 4951.7 rubles per tonne, for barley - to 3002.6 rubles per tonne, for corn - to 2923.4 rubles per tonne.

Learn more in the grain market review.

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