Russian wheat export prices decline

MOSCOW, Aug 19 (Reuters): Russian wheat export prices declined last week amid lower global prices and weak demand, as analysts expect new crop supplies to increase and exert further downward pressure.

The price of 12.5 per cent protein Russian new crop wheat scheduled free-on-board (FOB) with delivery in late September was $218 per tonne at the end of last week, $3 lower than the week before, according to consultancy IKAR.

Sovecon put the price of wheat with the same protein content for nearest delivery at $219-$221 per tonne, down from $220-$223 per tonne at the end of the previous week.