IKAR in Mass and Industry Media

Russian wheat prices fall, Russia-West tensions less of a worry

Reuters

Russian wheat export prices fell for a fourth consecutive week last week, in line with global benchmarks

MOSCOW- Russian wheat export prices fell for a fourth consecutive week last week, in line with global benchmarks, while tensions between Moscow and the West have become less of an immediate concern for traders.

Russian wheat with 12.5% protein content loading from Black Sea ports for supply in late February-early March stood at $319 a tonne free on board (FOB) last week, down $9 from the previous week, the IKAR agriculture consultancy said.

Sovecon, another consultancy, pegged wheat down $7 at $323 a tonne, with barley up $2 at $278 a tonne.

Russian wheat exports are down by 41% since the start of the 2021/22 marketing season on July 1 because of a smaller crop and an export tax that had been set at $93.2 a tonne for Feb. 9-15.

Other Russian data provided by Sovecon and IKAR:

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

- Domestic 3rd class 15,200 no change wheat, European part roubles/t($201.22 of Russia, excludes ) delivery (Sovecon)

- Sunflower seeds 37,475 rbls/t -75 rbls (Sovecon)

- Domestic sunflower 88,500 rbls/t 325 rbls oil (Sovecon)

- Export sunflower $1,380/t -$5 oil (Sovecon)

- Export sunflower $1,380/t no change oil (IKAR)

- Soybeans (Sovecon) 44,250 rbls/t -300 rbls

- White sugar, $652.3/t $12.7 Russia's south (IKAR)

($1 = 75.5375 roubles)

08.02.22

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