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Where the margin is 2026

Where the margin is 2026
July 23-24, Moscow

IKAR in Mass and Industry Media


Russian wheat prices jump with global benchmarks and strong demand

Reuters


* Transhipment prices from deep-sea ports could rise
* Black Sea port of Novorossiisk sets limit on rail cars

MOSCOW, Aug 31 (Reuters) - Russian wheat export prices rose sharply last week after prices for Chicago and Paris futures rose and on strong demand from a large buyer, analysts said on Monday.

Egypt, the second largest importer of Russian wheat behind Turkey, purchased 530,000 tonnes of Russian wheat for October shipment last week.

Russian wheat with 12.5% protein loading from Black Sea ports and for supply in September was at $211 a tonne free on board (FOB) at the end of last week, up $9 from the previous week, agriculture consultancy IKAR said in a note.

Sovecon, another Moscow consultancy, pegged wheat at $206 a tonne, up $7, and barley up $3 at $185 a tonne.

Ukraine has almost finished harvesting its new crop, while Russian wheat harvesting is 67% complete.

Yields in Russia are down from a year ago because of damaged crops in the Urals in Siberia, Sovecon said, adding that the decline is in line with expectations.

Russian grain terminals in deep-water sea ports are operating at full export capacity and are in talks with traders about raising their transhipment prices by $2-$4 from October from the current $15-$16 a tonne, Sovecon said.

Sovecon added that some traders said that the Black Sea port of Novorossiisk has limited the daily number of grain rail cars it will accept.

Other Russian data provided by Sovecon and IKAR:

 Product:            Price at the end       Change from week
                        of last week:                earlier
 - Domestic 3rd         12,450 rbls/t              +150 rbls
 class wheat,               ($168.75)  
 European part of                      
 Russia, excludes                      
 delivery                              
 (Sovecon)                             
 - Sunflower seeds      23,225 rbls/t              +325 rbls
 (Sovecon)                             
 - Domestic             56,825 rbls/t              -500 rbls
 sunflower oil                         
 (Sovecon)                             
 - export                      $785/t                    -$5
 sunflower oil                         
 (Sovecon)                             
 - Soybeans             28,250 rbls/t               -50 rbls
 (Sovecon)                             
 - white sugar,              $438.6/t                   +$21
 Russia's south                        
 (IKAR)                                

($1 = 73.7775 roubles)

01.09.20



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