Russian wheat prices rise

MOSCOW, Sept 21 (Reuters): Russian wheat export prices rose for the fourth week in a row last week on strong demand from Turkey, Egypt and other major importers and higher Chicago wheat prices, analysts said on Monday.

Russian wheat with 12.5 per cent protein loading from Black Sea ports and for supply in October was at $235 a tonne free on board (FOB) at the end of last week, up $11 from the previous week, agriculture consultancy IKAR said in a note.

Sovecon, another Moscow consultancy, pegged wheat up $6 at $228 a tonne at the end of last week and barley up $3 at $192 a tonne. Domestic wheat prices also rose sharply amid strong demand from exporters and domestic buyers, Sovecon said, adding that the rapid price rise increased the risk of some form of state intervention if there were concerns about securing domestic supply.