IKAR in Mass and Industry Media

Russian wheat prices up with global benchmarks, slow domestic sales

Reuters

* Many exporters plan low sales for July-Aug - SovEcon
* Weather conditions for the crop continue to worsen

MOSCOW, July 13 (Reuters) - Russian wheat export prices rose last week following a growth in Chicago and Paris wheat and a slow offering from domestic farmers as new crop yields remain low in Russia and Ukraine, analysts said on Monday.

Russian wheat with 12.5% protein loaded from Black Sea ports was at $202 a tonne free on board (FOB) at the end of last week, up $4.5 from the previous week, SovEcon agriculture consultancy said.

Barley rose by $1 to $176 a tonne. Another consultancy, IKAR, pegged wheat for supply in August at $205 a tonne, up $8.

Many exporters plan low sales for July-August as farmers in Russia's south are not in a rush to sell their crop and want to see higher bids amid low yields, SovEcon said.

It expects the traders to become more active in autumn when the crop from other regions becomes available.

The weather conditions for the crop continue to worsen, SovEcon added: there was some rainfall in part of the central region and in Siberia, but most of the regions remain very dry.

This and next week are expected to be dry and hot in all spring wheat producing regions, except the central region which may see some rainfall.

Dry weather may hit corn and sunflower yields in Russia's south, SovEcon said.

Other Russian data provided by SovEcon and IKAR: Product: Price at the end Change from week of last week: earlier - Domestic 3rd 12,700 rbls/t +75 rbls class wheat, ($179.4) European part of Russia, excludes delivery (SovEcon) - Sunflower seeds 24,350 rbls/t -1,625 rbls (SovEcon) - Domestic 52,500 rbls/t unchanged sunflower oil (SovEcon) - export $760/t -$5 sunflower oil (SovEcon) - Domestic 28,175 rbls/t -200 rbls soybean, European part of Russia (SovEcon) - white sugar, $407.7/t +$32 Russia's south (IKAR) ($1 = 70.7950 roubles)

13.07.20

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