IKAR in Mass and Industry Media

Russian wheat export prices fall with global benchmarks

Reuters

MOSCOW, July 12 (Reuters) - Russian wheat export prices fell last week due to a sharp drop in wheat prices in Chicago Wv1 and Paris BL2Z1 as well as the arrival of the new crop in Russia, analysts said on Monday.

New-crop Russian wheat with 12.5% protein loading from Black Sea ports and for supply in August was $238 a tonne free on board (FOB) at the end of last week, down $4 from the previous week, the IKAR agriculture consultancy said in a note.

Another consultancy, Sovecon, recorded a decline of $12 to $234 a tonne of wheat. Barley was down $20 to $212, it said.

Russia is expected to export between 1.5 million tonnes and 2 million tonnes of wheat in July, down from 2.3 million tonnes in July 2020, due to its export tax and slower start of harvesting, Sovecon said, citing its preliminary estimate.

Russia's southern regions are expected to produce almost record-high wheat crop this year. But some of them, such as the Krasnodar region, need dry weather in coming weeks as rains complicated harvesting last week, Sovecon said.

Russia's wheat yields are so far lower than a year ago as the harvesting is yet to enter the most active stage and starts later than in 2020, it added.

Other Russian data provided by Sovecon and IKAR:

Product:
Price at the end of last week:
Change from week earlier

- Domestic 3rd class wheat, European part of Russia, excludes delivery (Sovecon)
12,525 roubles/t ($168.53)
-650 rbls

- Sunflower seeds (Sovecon)
37,800 rbls/t
-3,125 rbls

- Domestic sunflower oil (Sovecon)
91,650 rbls/t
-8,350 rbls

- export sunflower oil (Sovecon)
$1,120/t
+$5

- export sunflower oil (IKAR)
$1,130/t
-$10

- soybeans (Sovecon)
47,800 rbls/t
-1,000 rbls

- white sugar, Russia's south (IKAR)
$554.5/t
-$17

($1 = 74.3194 roubles)

14.07.21

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