Russian wheat prices down

MOSCOW: Russian wheat export prices fell for a third week running last week, with the rouble still weak against the dollar amid tensions between Moscow and the West.

The West threatened to impose fresh sanctions against Russia if it takes aggressive steps towards Ukraine. Russia denies that it is planning an attack, but the rouble remains volatile because of the persisting geopolitical fears.

Wheat prices in Chicago also remain supported by fears of disruption to Black Sea grain shipments if the standoff between Russia and the West escalates.