Russia: Wheat export prices rose again

Russian wheat export prices rose for the fourth time in a row last week due to strong demand from Turkey, Egypt and other major importers and the rise in wheat prices on the Chicago stock exchange.
Russian wheat with 12.5% protein loaded at Black Sea ports for delivery in October stood at $ 235 per tonne FOB late last week, up $ 11 from the previous week, agricultural consultancy ICAR said in a statement .
Sovecon, another Moscow consultancy, reports a rise in wheat prices of $ 6 to $ 228 per ton and a rise in barley prices of $ 3 to $ 192 per ton.
Domestic wheat prices also rose sharply on the back of strong demand from exporters and domestic buyers, Sovecon said, adding that the rapid rise in prices increased the risk of government intervention if there were concerns about securing domestic supplies.
Some Russian farmers are in no hurry to sell their wheat and prefer to sell sunflowers, which are offered at a record price due to low crop yields.
The weather remains dry for winter wheat sowing, but the moisture reserves in the soil can still be replenished if it rains between September and October, Sovecon said.
Hansa Terminhandel GmbH
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