IKAR in Mass and Industry Media

Russia wheat export prices up after Egypt tender

Reuters

MOSCOW, May 31 (Reuters) - Russian wheat export prices rose slightly after Russian grain won out in the latest Egyptian wheat tender, analysts said on Monday.

Ordinary wheat with 11.5 percent protein content and bug damage of up to 1 percent rose to $178.5 per tonne FOB Novorossisk, the price at which Egypt bought 180,000 tonnes of Russian wheat, from $176, the Institute for Agricultural Market Studies (IKAR) said in a weekly note.

It said FOB prices at small ports were unchanged at $150 per tonne for wheat with 11.5 percent protein content and $152 with 12.5 percent. Feed barley was traded at $115-$119 with some indication of shortage.

Traders estimated new crop wheat to be priced around $168 per tonne, IKAR said.

SovEcon agricultural analysts said that some exporters kept buying fourth-grade (ordinary) wheat to honour signed contracts, but others stopped purchases or lowered prices awaiting new crop grain.

They said bid prices for fourth-grade wheat, including delivery (CPT) to Novorossiisk, declined to 4,900-5,000 roubles ($160.7-$164) per tonne from 5,000-5,100 a week before.

Bid prices at shallow ports were unchanged at 4,400-4,500 roubles per tonne (CPT), SovEcon said.

It said domestic prices rose slightly last week, with feed wheat, which added 50 roubles last week to 3,050 roubles per tonne on demand from animal feed makers, leading the race.

IKAR said sunseed purchase prices were basically unchanged last week at $364 per tonne, while crude sunoil price rose slightly to $793 from $788.

It reflected a sharp decline of output in May, as well as a weaker rouble, which made processors in the south of Russia to start looking at export markets.

SovEcon said some processors increased bid prices for sunseeds last week.

IKAR said white sugar prices rose to 22,000 roubles per tonne from 20,500 roubles and to $712 from $666.6 a week before due to stronger international prices and a weaker rouble.

10.07.10

All viewing: 94
Discuss