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MOSCOW: Russian export prices for the summer’s new wheat crop were steady last week due to a stronger rouble, which was supported by higher oil prices, analysts said on Monday.

Prices for new-crop Russian wheat with 12.5% protein loading from Black Sea ports and for supply at the end of July were $256 a tonne free on board (FOB) at the end of last week, unchanged from the previous week, the IKAR agriculture consultancy said in a note.

Sovecon, another consultancy, said that barley rose by $2 to $247 a tonne.

Russia’s wheat export tax, which Moscow started setting each week from June, is gradually rising but remains low compared with the level in May.

IKAR raised its forecast for Russia’s 2021 wheat crop by 500,000 tonnes to 80.0 million tonnes on Monday.

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