Russia is the name of the game

Russian weather challenges continue to drive markets higher, that’s despite improving conditions in other regions. Russian consultancy IKAR downgraded wheat production to 83.5mmt from 86mmt. Track/FIS APW1 prices were up 2%/wk. APW1 is trading between $368/mt track Port Kembla to $420/tonne FIS Kwinana. With the rapid rise in overseas markets, local track prices in NSW, VIC and SA have begun to trade at a discount to overseas levels. For more updates, follow Dennis on X @Voz_Dennis or search Dennis Voznesenski on LinkedIn.

 

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