IKAR in Mass and Industry Media

Russian wheat prices rise further

Reuters

MOSCOW: Russian wheat export prices rose for the second consecutive week last week as the Russian market continued to reflect stronger global prices in Chicago, analysts said on Monday.

Russian wheat with 12.5% protein loading from Black Sea ports and for supply in September was at $216 a tonne free on board (FOB) at the end of last week, up $5 from the previous week, agriculture consultancy IKAR said in a note.

Sovecon, another Moscow consultancy, pegged wheat up $8 at $214 a tonne, and barley up $1 at $186 a tonne.

Russian farmers, sowing winter wheat for the next year's crop now, are getting increasingly concerned about the lack of precipitation, Sovecon said.

Farmers have sown winter grains for the 2021 crop on 23% of the planned area, or on 4.2 million hectares.

08.09.20

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