Russian wheat export prices rise with global benchmarks -IKAR

Egypt's state grains buyer GASC purchased 345,000 tonnes of wheat in a tender last week

  

MOSCOW- Russian wheat export prices rose last week, with higher prices in Chicago and Paris helping to halt a five-week decline, the IKAR agriculture consultancy said on Monday.

Egypt's state grains buyer GASC purchased 345,000 tonnes of wheat in a tender last week, including 290,000 tonnes of Russian wheat and 55,000 tonnes of Ukrainian wheat. Egypt is the second-largest buyer of Russian wheat behind Turkey.

Russian wheat with 12.5% protein loading from Black Sea ports for supply in April was at $247 a tonne free on board (FOB) at the end of last week, up $2 from the previous week, IKAR said.

Sovecon, another consultancy, said barley prices fell by $2 to $233 a tonne. 

The weather has been favourable for the upcoming crop in Russia and Ukraine in recent weeks, with additional healthy rains expected to come to Russia's south this week, Sovecon said.

Both Sovecon and IKAR raised their estimates for Russia's 2021 wheat crop in recent days. 

(Reporting by Polina Devitt Editing by David Goodman ) ((Polina.Devitt@thomsonreuters.com))

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