IKAR in Mass and Industry Media

Russian wheat export prices rise as storms hit shipments

Reuters

MOSCOW, Nov 27 (Reuters) - Export prices for Russian wheat rose last week, helped by a continuing drop in shipments owing to stormy weather in ports, analysts said.

Credit: REUTERS/FLORENCE LO

The price of 12.5% protein Russian wheat scheduled for free-on-board (FOB) delivery in January was $235 per metric ton last week, up $5 from the previous week, the IKAR agriculture consultancy reported.

The Sovecon agriculture consultancy pegged the same class of wheat at $234-239 a ton FOB last week.

"News about Black Sea storms damaging or even destroying ships in the region also could have provided some support. However, bear in mind that we are approaching a season of stormy weather, so it’s not something extraordinary," Sovecon said in a weekly report.

The Black Sea region has been hit by heavy storms since Friday, disrupting logistics and damaging homes and infrastructure. Three people have been killed and hundreds evacuated, state media said on Monday.

Russia exported 0.72 million tons of grain last week, down from 0.81 million tons the previous week. The exports included 0.56 million tons of wheat, compared with 0.75 million tons the previous week, Sovecon wrote, citing port data.

It lowered its estimate of wheat exports in November by 0.1 million tons to 3.8 million tons, compared with 4.3 million tons a year ago.

The wheat harvest as of Nov. 23 totalled 94.7 million tons, down from 105.2 million tons а year earlier.

The average yield was 3.26 tons per hectare, against 3.60 tons per hectare a year earlier.

Sowing of winter grains was carried out on an area of 18.6 million hectares, up from 17.6 million hectares last year, 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)
12,575 rbls/t
+75 rbls/t

- Sunflower seeds (Sovecon)
24,525 rbls/t
+950 rbls/t

- Domestic sunflower oil (Sovecon)
73,675 rbls/t
+1,000 rbls/t

- Domestic soybeans (Sovecon)
35,700 rbls/t
+1,000 rbls/t

- Export sunflower oil (IKAR)
$840/t
+$20/t

- White sugar, Russia's south (IKAR)
$658.19/t
+$17.38/t

28.11.23

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