US Wheat Export May Slow down Due To Rising freight Cost


India, July 9 -- US wheat export may hamper with increasing freight cost in the months ahead. A rally in freight rates would be detrimental to the chances of U.S., Australian and Argentine wheat in Middle Eastern markets. Russian wheat would probably be the winner now U.S. soft red winter wheat, on a free-on-board basis, was currently $6 a ton cheaper than Russian and Ukrainian wheat and $5 a ton cheaper than Western Europe origins. Black Sea Region crop started hitting the market and Russian FOB quotes are hovering in the range of $245 to $250 per tonne.

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