Black Sea wheat prices hold steady amid tight margins, shifting demand

Platts wheat benchmark, the Milling Wheat Marker, has stayed in the high $230s to low $240s per metric ton since early March amid steady demand and tight exporter margins. On May 14, the MWM tracked Russian 12.5% protein wheat at $241/mt, while April’s monthly average was $238.61/mt, virtually unchanged from March’s $238.77/mt. Market participants said they were focused on the upcoming Black SeaPlatts wheat benchmark, the Milling Wheat Marker, has stayed in the high $230s to low $240s per metric ton since early March amid steady demand and tight exporter margins. On May 14, the MWM tracked Russian 12.5% protein wheat at $241/mt, while April’s monthly average was $238.61/mt, virtually unchanged from March’s $238.77/mt. Market participants said they were focused on the upcoming Black SeaRead More