IKAR in Mass and Industry Media

Russian wheat export prices up slightly last week, market calm

Reuters

Nov 7 (Reuters) - Russian wheat export prices nudged a little higher last week, supported by slower exports from the Black Sea, in a calm market, analysts said.

Credit: REUTERS/Eduard Korniyenko

The price of 12.5%-protein Russian wheat scheduled for free-on-board (FOB) delivery in December was $226 per metric ton last week, up from $224 in the previous week, the IKAR agriculture consultancy reported.

The Sovecon agriculture consultancy saw the price for the same class of wheat last week at $227-231 per ton FOB, down $2 from the week before.

"The prices fell in the first half of the week and rose slightly in the second half. In line with our expectations, the wheat market was relatively calm," Sovecon noted in its weekly report.

Russia exported 0.90 million tons of grain last week, down from 1.08 million tons the week before, including 0.76 million tons of wheat, compared with 0.99 million tons the previous week, Sovecon wrote, citing port data.

Its estimate of wheat exports in November was between 3.8 and 4.2 million tons, compared with 4.3 million tons a year ago and 3.5 million tons on average.

Last month, the Ministry of Agriculture of the Russian Federation raised its estimates of the grain harvest and exports.

The wheat harvest as of Nov. 02 totalled 93.8 million tons versus 104.9 million tons а year earlier, from 28.9 million hectares planted versus the previous year's 29.2 million hectares.

The average yield came in at 3.25 tons per hectare, against 3.59 tons per hectare a year before.

Sowing of winter grains was carried out on an area of 18.0 million hectares, up from 17.2 million hectares a year earlier, Sovecon wrote.

Other Russian data provided by Sovecon and IKAR:

Product:
Most recent data:
Change from week earlier

- Domestic 3rd class wheat, European part of Russia, excludes delivery (Sovecon)
12,475 rbls/t
-75 rbls/t

- Sunflower seeds (Sovecon)
22,275 rbls/t
+475 rbls/t

- Domestic sunflower oil (Sovecon)
74,000 rbls/t
+0 rbls/t

- Domestic soybeans (Sovecon)
34,600 rbls/t
+400 rbls/t

- Export sunflower oil (IKAR)
$780/t
-10 rbls/t

- White sugar, Russia's south (IKAR)
$622.52/t
+2.60 rbls/t

07.11.23

All viewing: 4
Discuss