Russian wheat price falls

The price of Russian wheat fell on the world market at the beginning of this week. Russian agricultural consultancy SovEcon raised its wheat crop forecast from 87.1 million tons to 92.1 million tons, last week, in its latest monthly report. The larger harvest in combination with record stocks will stimulate exports, resulting in price pressure on the world market. Due to price pressure in Russia, futures quotes in Europe fell this week to remain competitive. Despite the fact that estimated yi