Demand for Russian wheat drives export prices to three-year high.

Average prices for wheat produced by Russian farmers have increased to $215 per ton, according to Moscow-based agricultural markets research firm SovEcon. The figure marks the highest level since the 2014-2015 agricultural season. Russia exported 1.6 million tons of grains, including 1.2 million tons of wheat, as of April 18. As a comparison, during the previous week, Russian farmers sold 800,000 tons of grain abroad, including 600,000 tons of wheat. The growth of the quoted price is reportedly triggered by effective demand from importers. Another driver is a decrease in domestic market supply in the southern exporting regions.