Russia. Wheat price downward trend persisted for a third consecutive week

Russian wheat prices closed the week down another USD 3. As of today, the downward trend has been persisting for a third consecutive week in view of keen competition in the region, UkrAgroConsult reports.

Wheat prices in the domestic market keep sinking as well.

The Ag Ministry has decided to subsidize rail transportation of 2.1 MMT grain from remote Siberian and Ural regions for export and domestic sale. This benefit will be granted for the time period of February 1 – August 31, 2020;

The Russian State Statistics Service reports wheat stocks as of February at 9.7 MMT that is up 11% from MY 2018/19.

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