MOSCOW, Sept 26 (Reuters): Russian wheat prices rose last week, tracking gains in Chicago and Paris, inflated by concern over Black Sea supplies because of the Russia-Ukraine conflict, analysts said on Monday.
Russian prices for wheat with 12.5 per cent protein content and for supply from Black Sea ports rose by $8 to $325 per tonne free on board (FOB) at the end of last week, the IKAR agriculture consultancy said in a note.
Russia exported 900,000 tonnes of grain last week compared with 1 million tonnes the previous week as a lower wheat export tax continues to support traders' margins, fellow consultancy Sovecon said, citing port data.
Sovecon sees wheat for immediate delivery at $315-319 per tonne, up from $310-314 per tonne a week ago. Some farmers report insufficient storage capacity, first of all in the Volga region, which is starting to harvest its huge sunflower crop, it added.
Russian wheat prices up with global benchmarks
FE Team | Published: September 26, 2022 22:41:27
Russian wheat prices up with global benchmarks
Share if you like