Russian wheat export prices continue to fall on rising supply

MOSCOW, (Reuters) - Russian wheat export prices fell again last week after an agreement allowing safe export of Ukrainian grain to the Black Sea was renewed, supporting the downward trend in world markets, along with increasing export volumes, according to analysts. Prices of Russian 12.5% protein wheat, delivered free on board (FOB) to Black Sea ports, fell $5 to $272 a tonne last week, according to agricultural consultancy IKAR. "We are neutral or bearish on wheat in the short term. The more bullish news that Russia could halt shipments is unlikely to materialize. FOB Russian price could fall, but downtrend appears limited," the consultancy wrote. agricultural SovEcon in his weekly note. The business daily Vedomosti reported on Friday, citing two unnamed sources, that Russia may recommend a temporary halt to wheat and sunflower exports after the sharp fall in world prices in recent weeks. "This news looks like an attempt to support the market, which has worked well in the short ...