IKAR in Mass and Industry Media

Russian wheat up for 12th week amid higher global benchmarks

Reuters

MOSCOW, Oct 4 (Reuters) - Russian wheat export prices rose for 12th consecutive week, supported by robust demand and following higher global benchmarks in Chicago and Paris , analysts said on Monday.

Russian wheat with 12.5% protein loading from Black Sea ports for supply in the first half of November was $307 a tonne, free on board (FOB), at the end of last week, up $3 from the previous week, said Dmitry Rylko, the head of consultancy IKAR.

Sovecon, another consultancy, pegged wheat as having risen $1.50 to $306 a tonne, while barley also rose by $1.50 to $262 a tonne.

Russian wheat exports are down 14% since the start of this season on July 1 due to a smaller crop and a higher export tax.

The tax, which Moscow has set on a weekly basis since June, will rise to $57.8 a tonne for Oct 6-12 from the current $53.5. The price index on which it is based remains lower than the actual FOB price.

"Weather conditions are to improve for late crops' harvest, set up for 2022 crop is good," Sovecon said.

However, the sowing is significantly delayed compared with a year ago.

Other Russian data provided by Sovecon and IKAR:

 Product:             Price at the end       Change from week
                         of last week:                earlier
 - Domestic 3rd       15,025 roubles/t               -25 rbls
 class wheat,                ($206.13)  
 European part of                       
 Russia, excludes                       
 delivery (Sovecon)                     
 - Sunflower seeds       37,025 rbls/t              +125 rbls
 (Sovecon)                              
 - Domestic              83,675 rbls/t              +500 rbls
 sunflower oil                          
 (Sovecon)                              
 - export sunflower           $1,320/t                   +$60
 oil (Sovecon)                          
 - export sunflower           $1,300/t                   +$20
 oil (IKAR)                             
 - soybeans              50,600 rbls/t              +100 rbls
 (Sovecon)                              
 - white sugar,               $622.1/t                  -$3.6
 Russia's south                         
 (IKAR)                                 
 
($1 = 72.8900 roubles)

05.10.21

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