IKAR in Mass and Industry Media

Russian wheat rises with Paris prices, demand from Egypt

Reuters

MOSCOW, Nov 8 (Reuters) - Russian wheat prices gained further last week, amid higher prices for the grain in Paris and demand from Egypt, the world's largest wheat importer, analysts said on Monday.

Egypt's state grains buyer, GASC bought 180,000 tonnes of Russian wheat in its tender last week for shipment in December. It held another large tender, in which the Russian wheat won a half of the purchase, on Oct. 27.

Russian wheat with 12.5% protein loading from Black Sea ports for supply in the second half of November was $326 a tonne free on board (FOB) at the end of last week, up $2 from the previous week, the IKAR consultancy said.

Sovecon, another consultancy, pegged wheat up $2 to $327 a tonne while barley rose by $8 at $293 a tonne.

Russian wheat exports are down by 32% since the start of the 2021/22 marketing season on July 1, due to lower crop and the state export tax, which will continue to rise this week and will reach $69.9 per tonne.

The weather remains favourable for development of winter grains sowed for the next year's crop in the majority of Russia's regions thanks to earlier or current healthy rains, Sovecon said.

Other Russian data provided by Sovecon and IKAR:

 Product:               Price at the end     Change from week
                           of last week:              earlier
 - Domestic 3rd class   14,900 roubles/t             +50 rbls
 wheat, European part           ($209.2)  
 of Russia, excludes                      
 delivery (Sovecon)                       
 - Sunflower seeds         35,500 rbls/t          -2,375 rbls
 (Sovecon)                                
 - Domestic sunflower      87,675 rbls/t            -325 rbls
 oil (Sovecon)                            
 - export sunflower             $1,365/t                 +$10
 oil (Sovecon)                            
 - export sunflower             $1,375/t                 +$15
 oil (IKAR)                               
 - soybeans (Sovecon)      49,700 rbls/t            -600 rbls
 - white sugar,                   $624/t                 -$11
 Russia's south                           
 (IKAR)                                   
 ($1 = 71.2111 roubles)

09.11.21

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