15-07-2014 10:05 AM | Russian Federation

Russian wheat prices decline as harvesting gathers pace

Russian wheat prices declined last week as harvesting gathered pace and eased concerns over crop delay and grain quality, an analyst and traders said on Monday.

So far, this year's harvest in Russia, one of the world's top wheat exporters via the Black Sea, has been 40 percent down on last year due to rain.

Some 9.9 million tonnes of wheat have been harvested with yields at 3.59 tonnes per hectare from 11 percent of the planned harvesting area, as of July 11, according to the Agriculture Ministry. This compares to 17.0 million tonnes and yields of 3.22 tonnes per hectare a year ago.
Full Story : Reuters