Russian Wheat Prices Plummet Below $100 per Ton Amid Oversupply

Russian wheat prices have plummeted below $100 per ton in some regions due to an oversupply of grain and reduced export opportunities through Azov-Black Sea ports.

Purchase prices for Class 3 wheat in Rostov region and Krasnodar Krai now start at RUB 8,200 per ton.

The decline in domestic prices contrasts sharply with the global market, where wheat futures have risen by around 16.5% over the past month.

In mid-August, US wheat was trading at around $283/t, while Russian wheat in Novorossiysk had fallen to about $215/t.