Russian wheat prices fall

MOSCOW: Russian wheat export prices fell last week after four weeks of growth, mainly due to a sharp sell-off in Chicago and Paris, and as demand declined amid uncertainty over the impact of the COVID-19 pandemic, analysts said on Monday.

Agriculture consultancy IKAR said in a note that Russian wheat with 12.5% protein loading from the Black Sea port of Novorossiisk was at $251 a tonne free on board (FOB) at the end of last week, down $6 from the previous week. SovEcon, another Moscow consultancy, said wheat declined by $2 to $253 per tonne, while barley prices rose by $1 to $211 per tonne.