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Russia Purchases 10,665 Tons of Wheat to Support Prices

Russia’s government bought 10,665 metric tons of wheat from farmers today for 49.2 million rubles ($1.7 million) to support prices, the National Mercantile Exchange said on its website.

Following is a table showing cumulative grain purchases by the government in 2011-12 intervention tenders since buying started on Nov. 29.

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             Amount Bought  Price Range       Average Price
                (Tons)    (Rubles a ton)     (Rubles a ton)
===========================================================
Total bought    415,530

Milling Wheat
3rd Grade       307,800     4,100-5,000          4,636.6

Milling Wheat
4th Grade       107,730     4,200-4,650          4,435.2
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SOURCE: National Mercantile Exchange.

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: John Deane at jdeane3@bloomberg.net

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