Russian weekly grain market report

Russian grain prices were declining rapidly in the week to June 11 ahead of the start of the new harvesting campaign, traders said.
The decline on the food wheat markets was especially notable. Lowest offer prices for both third and fourth class wheat fell by an average of 200-300 roubles per tonne.
Traders expect prices of the first shipments of new harvest third class wheat in the range of 3,200-3,500 roubles per tonne (EXW North Caucasus) and of fourth class 3,000-3,200 roubles per tonne.
Food rye prices declined less, by 100-200 roubles per tonne.
Feed wheat lost 100-200 roubles per tonne, while feed barley around 100 roubles.
Traders believe that the starting prices for new harvest feed wheat will be 2,700-2,900 roubles per tonne (EXW North Caucasus) and for feed barley - 2,600-2,800 roubles.
Wheat flour prices were largely unchanged, only in some regions they declined by less than 100 roubles per tonne.