On the 22nd week freight rates in the Azov-Black Sea region dropped again, reaching the level of USD 17 per ton for the shipment of 3000 tons of wheat from Azov to Marmara Sea ports. Demand from Turkish buyers is getting lower also on the threshold of the new grain season, the beginning of which is traditionally awaited by all market participants to resume more active trading. Shipments along the Russian river are made mostly by cabotage fleet, shipments for export from this region are still very few, despite the traders’ active attempts to sign contracts.
The rate for wheat exports from Russia from May 28 will again drop by more than 10 percent to 1,365.5 rubles per ton. The tax on barley will once again be zero, on corn it will be reduced to 606 rubles per ton.