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Russia. Milling wheat prices hit their lowest since December 2017
Export prices of Russian wheat continued falling last week (down $2-3/MT FOB on the week), reports UkrAgroConsult.
The following factors pressure prices: sinking wheat prices in the world market; weakening foreign demand; intensifying competition both among Black Sea exporters and with European suppliers. Domestic price growth stopped in most regions. Nevertheless, due to a weakening rouble against the US dollar, purchase prices in the domestic market still may increase. In addition, active domestic demand from processing companies maintains wheat prices at a still high level.