Russian wheat export prices fall for first time since November

Export prices of Russian wheat fell last week for the first time since November due to strong competition and growing fears over the spread of China's coronavirus, analysts said on Monday. Export prices had reached 11-month highs earlier in January.

Russian wheat with 12.5% protein content, loaded from Black Sea ports and intended for delivery in February, fell by $0.5 to $230.5 per tonne on a free-on-board (FOB) basis at the end of last week, SovEcon said. Barley rose by $4 to $191 per tonne. IKAR, another agricultural consultancy in Moscow, pegged wheat at $226 per tonne, down $6.