Over the past two weeks, world wheat prices have grown significantly. If at the end of January, March futures were trading at $5.35 per bushel ($196 per ton) on the US exchange, then by February 12 the price had risen to $5.79 per bushel ($212 per ton).
According to Andrey Sizov, director of the analytical center "SovEcon", the reason for the price increase could be information that wheat reserves in Russia are 21% lower than in the same period last year (28.7 million tons).
"The reduction in wheat reserves will support quotes on the world and Russian markets," said Andrey Sizov.
For class 4 wheat on the domestic market of Kazakhstan, 65 thousand tenge/ton (including VAT) is offered. Until recently, this was the level of the "troika", but the devaluation of the tenge pushed its price up. And now for class 3 wheat with 25% gluten they are already offering 76 thousand tenge (including VAT). For hi-pro wheat they are offering 125 thousand tenge/ton (including VAT).
As for export prices, the Uzbeks are ready to take class 3 wheat at a price of $190 and even a little higher (DAP Saryagash). Just recently the price was $10 lower.