October 6, 2011
Russian domestic wheat prices down
Domestic wheat prices in Russia have decreased for the second consecutive week, according to SovEcon data.
Domestic prices for third-grade milling wheat have fallen 1.2% to RUB6,125 (US$188) a tonne, while fourth-grade milling wheat fell 1.6% to RUB6,000 (US$184) per tonne. Feed wheat fell 1.0% to RUB5,150 (US$158) per tonne.
Russian wheat prices are falling in tandem with EU wheat prices, which are being pulled down to their lowest point in almost a year by mounting concerns about the euro zone debt crisis.
Monday, Paris milling wheat for November delivery slumped EUR4.50 (US$6) to a nadir of EUR179 (US$239) per tonne, its lowest point since October 2010.