MOSCOW: Russian wheat export prices rose last week amid active supplies from the country’s Black Sea ports, analysts said on Monday.
Prices for wheat with 12.5% protein content and for supply from Black Sea ports in June rose $15 to $425 free on board (FOB) at the end of last week, the IKAR agriculture consultancy said.
Russia exported 620,000 tonnes of grains last week compared with 360,000 tonnes a week earlier, another consultancy, Sovecon, said, citing data from ports.
The consultancy said on Friday that it had raised its forecast for Russia’s wheat exports in the new July-June marketing season by 1.3 million tonnes to a record high of 42.3 million tonnes.
Spring grains were planted on 26.8 million hectares as of June 2 vs 28.4 million hectares a year ago as the planting campaign is still delayed in the European part of Russia, Sovecon said.
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