IKAR: Russian wheat export prices down as crop outlook improves

MOSCOW, June 15 (Reuters) - Russian export prices for the summer's new wheat crop fell slightly last week following an improved outlook for the upcoming harvest, analysts said on Tuesday.

Prices for new-crop Russian wheat with 12.5% protein loading from Black Sea ports and for supply in July were $255 a tonne free on board (FOB) at the end of last week, down $1 from the previous week, the IKAR agriculture consultancy said in a note.

Russia's wheat export tax, which Moscow started setting each week from June, is gradually rising but remains low compared with the level in May. This is expected to support Russian exports in June.

Sovecon, another consultancy, raised its forecast for Russia's 2021 wheat crop by 1.5 million tonnes to 82.4 million tonnes last week after rains in May improved the condition of winter wheat in Russia's south, the largest wheat producing and exporting region.

Rains are expected to continue in Russia's southern, central and Volga regions this week, Sovecon said in a note.

"Southern farmers hope to see fewer rains during the next few weeks as this could substantially worsen the quality of the new crop in terms of protein and gluten content," it added.

Following is a summary of other Russian data provided by Sovecon and IKAR:

 Product:             Price at the end       Change from week
                         of last week:                earlier
 - Domestic 3rd       14,025 roubles/t              -175 rbls
 class wheat,                 ($194.7)  
 European part of                       
 Russia, excludes                       
 delivery (Sovecon)                     
                                        
 - Sunflower seeds       47,150 rbls/t            -5,025 rbls
 (Sovecon)                              
 - Domestic             112,675 rbls/t            -3,675 rbls
 sunflower oil                          
 (Sovecon)                              
 - export sunflower           $1,270/t                   -$20
 oil (Sovecon)                          
 - export sunflower           $1,267/t                   -$33
 oil (IKAR)                                                  
 - Soybeans              50,600 rbls/t            -1,800 rbls
 (Sovecon)                              
 - white sugar,               $610.8/t                  +$8.8
 Russia's south                         
 (IKAR)                                 
 ($1 = 72.0470 roubles)