IKAR in Mass and Industry Media

Russian wheat climbs with global benchmark

Reuters

MOSCOW, Aug 1 (Reuters) - Russian wheat export prices rose slightly last week following growth in wheat prices in Chicago Wv1 and uncertainty around a deal aimed at resumption of massive exports from Ukraine, analysts said on Monday.

Russia, Ukraine, the United Nations and Turkey signed the deal last month to reopen three Ukrainian Black Sea ports for grain exports. The first ship with the Ukrainian grain left the Black Sea port of Odesa on Monday.

Russian prices for wheat with 12.5% protein content and for supply from Black Sea ports rose by $3 to $358 a tonne free on board (FOB) at the end of last week, the IKAR agriculture consultancy said in a note.

Russia exported 650,000 tonnes of grain last week, compared with 540,000 tonnes the previous week, said fellow consultancy Sovecon, citing port data.

Other Russian data provided by Sovecon and IKAR:

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

- Domestic 3rd class wheat, European part of Russia, excludes delivery (Sovecon)
13,000 rbls/t
($208.5) -25 rbls

- Sunflower seeds (Sovecon)
25,425 rbls/t
-175 rbls

- Domestic sunflower oil (Sovecon)
72,675 rbls/t
-500 rbls

- Domestic soybeans (Sovecon)
34,150 rbls/t
-250 rbls

- Export sunflower oil (Sovecon)
$1,330/t
-$50

- Export sunflower oil (IKAR)
$1,270/t
+$20

- White sugar, Russia's south (IKAR)
1,121.3/t
+$41.3

The harvesting data provided by Sovecon as of July 27*:
All grains:

Wheat
Barley
Crop, mln tonnes

38.8
33.0
4.3
Crop, as of same date in 2021

47.9
37.2
7.2
Yield, tonnes/hectare

4.23
4.37
4.14
Yield, as of same date in 2021

3.32
3.48
3.18
Harvested area, mln hectares

9.2
7.6
1.0
Harvested area, as of same date in 2021

14.4
10.7
2.3
* Russia's agriculture ministry has yet to publish harvesting data in detail for the current season.

($1 = 62.3500 roubles)

19.08.22

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