Wheat

Despite the recent three-month rally, Black Sea wheat prices have fluctuated around US$6/mt since September, under pressure from currency volatility.

Tunisia’s awarded prices will likely serve as reference points for traders in the Mediterranean region through the first quarter of the year.

The achievement, excluding output from irrigated wheat schemes, reflects gains in productivity and expanded cultivation that are central to the country’s National Wheat Program.

The export performance reflects Russia’s continued role as a key supplier to price-sensitive importing regions.

Algeria’s purchases are optional origin ‍but traders suspected the wheat could be sourced from Argentina, ​which is currently offering very low prices from its large new crop.