Russia's wheat prices rise

The Russian export prices for wheat to rise for three weeks due to the strong demand of Egypt, the stable ruble and the unwillingness of tax farming in anticipation of further price increases.
Egypt's State grain purchasing GASC bought 410,000 tons of Russian wheat on January 26. For Black Sea wheat with 12% protein content for delivery in February on prices by the Russian agricultural consultancy IKAR according to $186 per tonne FOB. Compared to the previous week, which is an increase of $1.00.
Russia exported 16 to 25 January 17 22.1 million tons of grain during the period from July 1. This is an increase of 0.7% compared to the same period last year. Including 17.2 million tons of wheat.
This week a cold wave in southern of Russia expects 17 grass with temperatures of up to minus Celsius. Local winter wheat stocks are not protected by a blanket of snow. Krasnodar, Rostov and Stavropol regions are affected. The Russian main cultivation and export regions are for wheat. It is currently too early to assess any damage. But increases, if the cold weather persists and the temperatures fall further so SovEcon.
The prices for wheat of class III on the local market in the European part of Russia fell to 25 rubles on 10.625 roubles per ton ($177).

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