Russian wheat export prices rose sharply last week after prices for Chicago and Paris 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.
Russian Crops
Yields in Russia are down from a year ago because of damaged crops in the Urals in Siberia, Sovecon said, adding that the decline is in line with expectations.
Russian grain terminals in deep-water seaports are operating at full export capacity and are in talks with traders about raising their transshipment prices by $2-$4 from October from the current $15-$16 a tonne, Sovecon said.
Sovecon added that some traders said that the Black Sea port of Novorossiisk has limited the daily number of grain rail cars it will accept.
