The export price of Russian wheat shipped from Baltic ports fell 7% from October 20 to about $251 per tonne, amid declining global wheat prices. October grain exports through Russian ports fell threefold, while higher export costs and weak prices are adding pressure on exporters; market participants said the decline also affected competing origins.
Lower Russian offers reflect broad weakness in international wheat prices and increase competition among exporters, pressuring wheat values. Reduced Russian shipments could partly offset that bearish price pressure if they constrain available export supply.
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