Export prices for Russian wheat have risen for the third consecutive week.

Export prices for Russian wheat have risen for the third consecutive week amid a strengthening ruble and bad weather in ports, with analysts not yet seeing damage to the crop from the cold snap that has affected many regions of the country. The price of Russian wheat with a protein content of 12.5% on FOB (free on board) terms at the beginning of March was $231 per metric ton at the end of last week, which is $2 more than a week earlier, reported Dmitry Rylko, head of the consulting company IKAR. IKAR reduced its estimate of wheat exports in January to 2.5 million tons from the previously forecast less than 3 million tons. Sovecon estimated the price for the same grade of Russian wheat at $229-231 per ton FOB, compared to $228-230 at the end of the previous week. "The Russian FOB is supported by a strong ruble, rising domestic prices, and an increase in MATIF (wheat delivery on Euronext)," said Sovecon in its weekly report. The agency reduced its forecast for wheat exports in ...