Egypt’s failure to buy wheat is hurting prices for some of its biggest sellers, Russia and France.
In Russia, spot wheat prices on a free-on-board basis fell 1.1 percent last week to $179 a metric ton, bringing prices closer to a five-year low, according to data from the Moscow-based Institute for Agricultural Market Studies. While milling-wheat futures in Paris rebounded in recent days, the March delivery contract is down 11 percent this year.
