"We are talking about buying a large amount," said Yury Olennikov, press spokesman for Inkombank. He declined to give details on either of the deals.
Valery Cheshinsky of Menatep-Impeks, part of Menatep, said various options were being discussed, but also gave no details.
Referring to talks about financing purchases of foreign wheat, Cheshinsky said, "There are various options and means being discussed, but no concrete deals as of yet."
Olennikov said Inkombank was in contact with the Russian government about the talks. "We are coordinating our activity with the state," he said.
Olennikov said a deal could be concluded in the third or fourth week of January 1996. There was no other confirmation of this time period.
The talks were not part of a previously reported government program to secure Russian bank credits under Finance Ministry guarantees to buy domestic wheat, he said.
But Olennikov said Inkombank was also in talks to buy up remaining Russian wheat still held on domestic farms. Industry sources have said domestic farms still hold about 10 million tons of wheat.
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