In Russia, wheat prices rose last week

The price of Russian export wheat rose last week as a result of rising stock prices in Chicago and Paris and subdued offers on the local market. Farmers in Russia and Ukraine are reluctant to sell due to poor new crop yields, analysts report.
Russian export wheat with 12.5% protein, loaded at Black Sea ports, cost $ 202 / ton based on FOB at the end of last week, an increase of $ 4.50 last week, reports the Russian agricultural consultancy SovEcon, barley rose accordingly by $ 1.00 to $ 176.00 per ton.
Many exporters plan low sales in July-August because farmers in southern Russia are in no hurry to sell their crops and want higher bids when yields are low, SovEcon said. Traders are expected to become more active in the fall, when the harvest is available from other regions.
The weather conditions for the harvest continue to deteriorate, SovEcon added: There was rainfall in some parts of the central region and in Siberia, but most regions remain very dry.
This and the next week, it is expected to be dry and hot in all summer wheat growing areas, except for the central region, where it may rain a little. Dry weather could affect corn and sunflower yields in southern Russia, according to SovEcon.

Hansa Terminhandel GmbH
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