Russian wheat prices fall, tracking lower global benchmarks.

Russian wheat export prices fell for a third week, tracking a 5 percent decline in U.S. wheat futures last week amid pressure from large supplies in many producing regions. Black Sea prices for Russian wheat with 12.5 percent protein content and for the nearest delivery were $190 a tonne on a free-on-board (FOB) basis at the end of last week, down $7 from a week earlier, SovEcon said. Barley prices were flat at $178.5 per tonne. The Agriculture ministry is yet to update Russia’s grain export data for the last week. As of Aug. 9, Russia had exported 3.7 million tonnes of grain since the start of the 2017/18 marketing season on July 1, up 24 percent from a year ago. Russia’s grain harvesting is still delayed compared with a year ago but the gap had shortened to 5 percent by the end of last week from 11 percent a week earlier, SovEcon said. Wheat harvesting is running at a record pace.