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Russia Wheat in Best Run Since April as Quality Grain Sought

30 Aug 2016

• 30 Aug 08:43

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Russian wheat prices extended a rebound, capping the best run since April, as farmers charged more for high-protein grain after rains damaged crops there and in major competitor France. Wheat for loading at Black Sea ports rose 1.2 percent from a week earlier to $170 a metric ton as of Friday, Dmitry Rylko, director general of Moscow-based Institute for Agricultural Market Studies, or Ikar, said by phone. The price, up for a fourth week, is for wheat with protein content of 12.5 percent. Farmers are seeking higher prices afterrainsthis year hurt crop quality in France, the European Union’s biggest grower, and the world’s top supplier Russia, Rylko. Read more...