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The export price of Russian wheat delivered from Baltic ports fell to $257 per tonne in the week of November 2-8, down $4 on the week and 7% over two weeks, according to SovEcon. Expectations that Black Sea shipping could resume and good southern hemisphere harvests weighed on prices.
Lower Russian export offers reflect expectations of renewed Black Sea supply and easing global wheat values. Buyers of feed-grade wheat may find cheaper origin options.
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Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.