Fixed ruble supports Russian wheat export prices

Wheat prices in Russia were largely stable in the past week. The exchange rate of the ruble against the US dollar had improved.
The export prices for Black Sea wheat with 12.5% protein for delivery in January quoted fob to the end of the week on 182 USD/tonne. These were 50 cents less than in the previous week. The rate of the ruble rose by firmer crude oil prices. The trading activities were weak, the financial markets of the Western world because of the Christmas holidays were closed. In Russia, there is the new year's holiday from the 1st to the 8th of January.
Russia exported 19 million tons of grain in the period from July 1 to December 21, 2016, of which 14.9 million tons of wheat, so the information from the local Ministry of agriculture.
Prices for wheat of class III on the local market fell to 25 rubles per tonne on 10.650 rubles per tonne, which corresponds to approximately 175 USD/tonne.

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