IKAR in Mass and Industry Media

Russian export prices for new wheat crop down

Reuters

Russian export prices for the new wheat crop, which is due to arrive this summer, fell last week following a decline in the global benchmark in Chicago, analysts said on Monday.

Beneficial May rain put Russia, Ukraine and Kazakhstan – all major Black Sea producers – back on track for large wheat exports in the new marketing season after a dry April, analysts said last week.

The new crop of Russian wheat with 12.5% protein loaded from Black Sea ports was at $195-197 a tonne free on board (FOB) at the end of last week vs $198-200 a week earlier, SovEcon consultancy said in a note.

IKAR, another Moscow agriculture consultancy, pegged the new crop of wheat for delivery in July-August at $195 a tonne, down $1.

The US Department of Agriculture expects Russia to remain the world's top wheat exporter in the 2020/21 season, which starts on July 1, it said last week.

19.05.20

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