Russian Wheat Prices Decline as Ukraine Crisis Looms

Russian wheat export prices fell for a sixth consecutive week last week as the market remained focused on tensions between Moscow and Western countries over Ukraine, reportsReuters.

Russia and Ukraine are major global wheat exporters with Egypt among the main buyers. They supply their grain to other countries mainly via the Black Sea.

Freight could becomemore expensivewith higher insurance premiums and some buyers could start considering other suppliers if the conflict escalates, said a Sovecon agriculture consultancy note.