Russian Wheat-Export Prices Extend Best Run of Gains in 4 Years

  • Country’s grain is still cheaper than rain-damaged French crop
  • Ukrainian wheat prices were unchanged in week: UkrAgroConsult

Russian wheat-export prices extended their longest run of gains in more than four years.

Wheat for loading at Black Sea ports rose 0.5 percent last week to $184 a metric ton, Dmitry Rylko, director general of the Moscow-based Institute for Agricultural Market Studies, said by e-mail. That’s the eighth weekly gain, the longest such run since October 2012.

Russian wheat is cheaper than French after rains damaged the crop in France.

Wheat for delivery at the main French grain-export port of Rouen with a minimum 11 percent protein content climbed 0.6 percent last week to 176.52 euros ($187.82) a ton, data from FranceAgriMer show. That’s near the one-year high reached on Nov. 21.

Rouen shipped soft wheat to Algeria and imported wheat from Germany in the week ended Nov. 23.

In Ukraine, wheat prices were unchanged last week at $183 a ton as of Thursday, according to UkrAgroConsult. Both Ikar and UkrAgroConsult data are for wheat with protein content of 12.5 percent on a free-on-board basis.

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