Russia's feed wheat prices to hit new highs in 2013

Finishing this year with more than 75% gain, Russian feed wheat prices are expected to reach new highs this year due to tight supply and worsening prospects for the 2013 winter crops. “Farmers are in no hurry to sell their grain which is the main factor behind the expectations for higher 2013 prices”, reports analysts from the analytical agency SovEcon.

Fifth-grade feed wheat rose RUB300 (US$10) to RUB10,850 (US$356) per tonne in the last week of 2012.