IKAR in Mass and Industry Media

Russian wheat falls with global benchmarks

Reuters

MOSCOW, Jan 17 (Reuters) - Russian wheat prices fell last week, tracking lower prices in Chicago and Paris , analysts said on Monday, adding that they were monitoring tensions between Moscow and the West.

Russian stocks and the rouble took a hit last week after the United States said it feared Moscow was readying a pretext to justify an invasion Ukraine should diplomacy fail to meet its objectives.

Russian wheat with 12.5% protein content loading from Black Sea ports for supply in January stood at $328 a tonne free on board (FOB), down $2 from thin trade in early January, the IKAR agriculture consultancy said.

Sovecon, another consultancy, pegged wheat at down $1 at $332 per tonne, with barley down $2 at $295 a tonne. Russia's New Year holiday lasted from Dec. 31 to Jan. 9.

Russian wheat exports are down by 39% since the start of the 2021/22 marketing season on July 1, owing to a smaller crop and an export tax that had been set at $97.5 per tonne for Jan. 19-25.

This winter has been very friendly for the 2022 crop so far, with healthy precipitation in most of Russia's winter wheat-producing regions and warm weather, Sovecon said.

Other Russian data provided by Sovecon and IKAR:

($1 = 75.8250 roubles)

https://reuters.com/markets/asia/russian-wheat-falls-with-global-benchmarks-2022-01-17/

19.01.22

All viewing: 14
Discuss