IKAR in Mass and Industry Media

Russian wheat up with higher Euronext contracts, slow domestic supply

Reuters

Russian wheat prices rose for the sixth consecutive week last week, tracking price growth in Paris BL2c1 and slow domestic supply, which inflates the rouble prices for wheat, analysts said on Monday.

Russian wheat with 12.5% protein loading from Black Sea ports for supply in September was $295 a tonne free on board (FOB) at the end of last week, up $8 from the previous week, the IKAR consultancy said in a note.

Another consultancy, Sovecon, recorded an $13 rise to $299 a tonne, adding that barley was up $18 at $263.

The weather remains unfriendly for sunflower seeds and maize (corn) as the main part of the Volga region, the largest sunflower grower, was dry last week, Sovecon said.

Rains, which arrived to the central and southern regions last week, could ease some of the stress for the plants there but are still too late to improve the situation significantly.

The Urals and Siberia are starting to harvest spring wheat amid hot weather, Sovecon added.

25.08.21

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