17-12-2013 11:10 AM | Russian Federation

Russia's wheat export prices rise

Russia's wheat export prices rose last week on demand from traders who buy grain to deliver on previously agreed contracts, while in general the market remained thin, analysts said on Monday. Russian wheat is currently priced out of global markets thanks to a number of supportive factors this season, including a lack of high-quality wheat, delayed harvesting and a government restocking programme.

"Generally we believe that upside potential for wheat (prices) is quite limited," Andrei Sizov Jr., managing director of the SovEcon consultancy, said. "Exports will decline in the coming months."
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