MOSCOW, RUSSIA — Russia’s wheat export prices have stabilized as the market examined crop conditions and yield potential, Reuters reported.
Wheat with 12.5% protein loaded from Black Sea ports with delivery in July was at $202 per tonne at the end of last week, unchanged from the previous week, said SovEcon. New crop wheat for July delivery was up $1 to $200 a tonne.
Exports from Russia slowed to the lowest levels in recent years, SovEcon said. Exports were at 134,000 tonnes of wheat last week compared to 305,000 tonnes a week earlier.
Total grain exports from July 1-May 28 are down 13% to 35.4 million tonnes. Wheat accounted for 30.2 million tonnes.
The agriculture ministry has sold 1.43 million tonnes of grain from its stockpile since the start of sales in April.