Russia's National Mercantile Exchange optimizes wheat spot market logistics

MOSCOW. Aug 17 (Interfax) - Russia's National Mercantile Exchange (NAMEX) is optimizing its wheat spot market logistics.

The exchange said the NOVO basis for rail delivery without acceptance on the wheat spot market has now been split into two separate bases according to specific terminal facilities in Novorossiysk. Participants now have access to NZTN (rail delivery without acceptance to NZT LLC) and NKHP (rail delivery without acceptance to PJSC Novorossiysk Grain Plant ) basis terms.

"Splitting the bases will give a better idea of their throughput capacity and infrastructure, and will also increase pricing transparency and reduce logistics risks," the statement said. "Traders will be able to plan deliveries more easily and take into account the actual capabilities of specific elevators and logistics operators."

Spot trading in wheat began in the NAMEX on January 19, 2026 and takes place in bidirectional anonymous auctions. Initially, participants had access to two instruments: the NOVO order book, with rail and truck deliveries in Novorossiysk, and the ROSA order book, with truck deliveries in Rostov-on-Don and Azov (trading started on April 20).

The NOVO CPT truck delivery basis has been divided into three separate bases since June 26: KSKT - truck delivery to JSC KSK facilities, NZTN - truck delivery to OOO NZT facilities, and NKHP - truck delivery to PJSC Novorossiysk Gran Plant facilities.

Spot market participants have been able to conclude transactions on the following export bases since July 22: the ports of Slavyanka (Vladivostok) and Zabaikalsk with the option of truck and rail delivery (CPT/CPT with FCA acceptance), the port of Taman with truck delivery on CPT terms, and the port of Vysotsk with the possibility of rail delivery on CPT terms with FCA acceptance.