Black Sea wheat prices continued sinking during last week.

Russian prices for old-crop wheat continued sinking during last week, despite growth in the global market, reports UkrAgroConsult. On average, export prices for Russian wheat closed the week down another $1/MT at $210-212/MT FOB for 12.5%-protein wheat, $200-203/MT FOB for 11.5%-protein wheat, and $197-200/MT FOB for feed wheat, Novorossiysk port, June delivery. In small ports, average export prices for all-class wheat similarly decreased another $2-4/MT FOB as Turkey keeps reducing imports due to a weak lira. The export market is pressured by weakening demand from the top importers of Russian wheat, i.e. Egypt and Turkey. The pace of wheat exports from Russia slowed down noticeably in May.