Russia's wheat export prices for the new crop remained flat last week as mixed weather factors sustained concerns over this year's harvest prospects, SovEcon consultancy said in a note on Monday. Late spring accompanied by dry weather in some regions in May has put Russia's plans to return as the world's No 3 wheat exporter after last year's drought at risk, but there has not yet been any forecast downgrades.
"Condition of winter grains improved slightly in European Russia due to rains at the end of last week and in early of this week," SovEcon said. "But taking into account actual damage and the low level of moisture content in soil in many regions, we are still cautious on winter grain crop prospects," it said. Cool weather delaying Russia's spring grain sowing campaign also adds uncertainty, it said. Southern Federal District, the country's main wheat export region, usually starts the harvesting campaign in late June.
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