Why 12.5% protein is the Black Sea wheat FOB quote
When a miller in Turkey, Egypt or Iran asks for a Russian wheat FOB price, they almost always mean 12.5% protein under GOST 9353-2016, 30k+ MT, Black Sea load. That is the workhorse stem — not Grade 1 at 14%, and not feed wheat. The chart on this page is that series: weekly mids from 31 January (232.5) through a late-May/June hold at 237.5–242.5, then a summer ease to 222.5 USD/MT on 15 August.
A 5-dollar week-down on 15 August is the latest print, not a contracted stem. Gluten, falling number, moisture and laycan still move the number. Read the milling wheat specification for the grade we actually ship, and the current FOB board for this week’s mids next to barley, maize and freight. Ukrainian 11.5% is a separate origin series.
Ready to lift Novorossiysk or another Black Sea load port? Ask the desk for a firm stem with volume and discharge. CIF Mersin and GASC Egypt are quoted on the water, not by adding this FOB mid to a freight line.