Russia wheat in best run since April as buyers seek quality grain

Moscow

RUSSIAN wheat prices extended a rebound, capping the best run since April, as farmers charged more for high-protein grain after rains damaged crops there and in major competitor France.

Wheat for loading at Black Sea ports rose 1.2 per cent from a week earlier to US$170 a tonne as at Friday, said Dmitry Rylko, director general of Moscow-based Institute for Agricultural Market Studies, or Ikar. The price, up for a fourth week, is for wheat with protein content of 12.5 per cent.