Russian wheat prices jump with global benchmarks and strong demand

Russian wheat prices jump with global benchmarks and strong demand

MOSCOW- Russian wheat export prices rose sharply last week after prices for Chicago and Paris BL2Z0 futures rose and on strong demand from a large buyer, analysts said on Monday.Egypt, the second largest importer of Russian wheat behind Turkey, purchased 530,000 tonnes of Russian wheat for October shipment last week.Russian wheat with 12.5% protein loading from Black Sea ports and for supply in September was at $211 a tonne free on board (FOB) at the end of last week, up $9 from the previous week, agriculture consultancy IKAR said in a note.Sovecon, another Moscow consultancy, pegged wheat at $206 a tonne, up $7, and barley up $3 at $185 a tonne. Ukraine has almost finished harvesting its new crop, while Russian wheat harvesting is 67% complete.Yields in Russia are down from