On the 45th week freight rates in the Azov–Black Sea region remain at around USD 50 per ton for shipments of 3,000 tons of wheat from Azov to Marmara ports. During the holidays in Russia, trading activity came to a standstill, leaving market conditions largely unchanged. It is worth noting that most charterers continue to look for freight levels in the low-to-mid 40s before committing to forward sales contracts.
The export duty on Russian wheat will decrease by more than half to RUB 76 per ton starting November 7. Export duties on barley and corn will remain at zero.