Prices for new-crop Russian wheat with 12.5% protein loading from Black Sea ports and for supply in the second half of July were at $256 a tonne free on board (FOB) at the end of last week, down $4 from the previous week, IKAR said.
IKAR and Sovecon forecast Russia's 2021 wheat crop at 79.5 million tonnes and 80.9 million tonnes respectively.
The government has said good weather is likely to help farmers increase their grain crop to at least 75 million tonnes this year from about 65 million tonnes in 2020.