Russian wheat export prices up

Russian wheat export prices have risen for the second week in a row as global markets strengthened slightly, but shipments have yet to pick up significantly, reports Reuters.
The price of 12.5 per cent protein Russian wheat scheduled for free-on-board (FOB) delivery in late December was $230 per metric ton last week, up from $226 in the previous week, the IKAR agriculture consultancy reported.
The Sovecon agriculture consultancy saw the price for the same class of wheat last week at $230-236 per ton FOB, up $4 from the week before.
"Russian export market was a mixed bag. FOB values rose noticeably but export sales started to increase predicting a recovery in exports", the agency noted.
"We expect to see Russian FOB flat or higher. Current values are still more than $10 per metric ton below Eastern EU offers".
According to the Russian Grain Union, the pace of grain shipments from Russia has decreased in recent weeks.