The Russian export wheat prices rose last week because of quality concerns of the new crop. Lingering rain and stormy weather put the field inventories.
Russian Black Sea wheat of the new harvest with 12.5% protein cost 180 USD/ton to close out week fob; 1.5 USD/ton are more than a week ago. Russia exported a total of 32.7 million tonnes cereals including 23.6 million tons of wheat in the ending period of marketing since July 1, 2015. 12.5% are more than a year ago.
Local wheat prices of class III cost 275 roubles more than a week earlier. Equivalent in USD of wheat in southern Russia 179,78 costs the tonne from loading station.
While it is not yet clear what damage did the weather at the wheat in Russia and the Ukraine, comes the sowing of corn and sunflowers in the ground to a halt. 3-5% of the planned areas are not yet ordered.
