The price tag on our latest wheat tender: The latest purchase of imported wheat by GASC — which took place last week — saw the state grains buyer paying Russian traders some USD 264 per ton, including freight, Bloomberg reports. GASC bought 300k metric tons of wheat from Russia and another 60k metric tons from Romania during the international tender, according to Reuters.

Russia mulls preferential grain prices for friendly countries: Russia could lower duties on commodities exports, including grain and fertilizers, to “friendly” nations, Bloomberg quotes Russian Prime Minister Mikhail Mishustin as saying in a televised speech on Thursday. The move could target countries that have imposed sanctions on Moscow, the world’s largest exporter of wheat and fertilizers.

It’s getting harder to buy Russian wheat in int’l markets: US bank JPMorgan decided to slam the brakes on processing Russia’s grain payments on Wednesday, Reuters reports citing Russian officials. JP Morgan had previously handled some grain payments for Russia as part of the recently expired Black Sea grain pact.

REMEMBER- Russia last month pulled out of the grain export pact with Ukraine. Brokered by Turkey and the UN in July 2022, the agreement had enabled Ukraine to resume its grain exports via the Black Sea after a blockade by Russia helped provoke a global food crisis. The renewed blockade is preventing Ukraine from shipping grains to food insecure countries in Africa, including Egypt, which is among the world’s largest importers of wheat. Egypt was not among the six African countries to which Russian President Vladimir Putin last month promised to send free grain.

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