IKAR in Mass and Industry Media

Russian wheat export prices flat; April shipments expected to drop 60-70%

Reuters

MOSCOW, April 7 (Reuters) - Russian wheat export prices were little changed last week while shipments remain low, with April exports expected to be significantly lower than last year, analysts said.

The price for Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in May remained at $251 a metric ton, the same as a week earlier, said Dmitry Rylko, head of the IKAR consultancy.

The Sovecon consultancy estimated prices for Russian wheat with the same protein content at between $250 and $254 a ton FOB, also unchanged from the previous week.

"FOB prices for Russian wheat are seen as flat to higher," Sovecon said in a note.

Weekly wheat exports were estimated last week at 0.41 million tons, down from 0.45 million tons the previous week, Sovecon said.

Sovecon upgraded its estimate of March wheat exports by 0.1 million tons to 1.9 million tons, significantly lower than the 4.8 million tons exported in March last year.

It estimated April wheat exports at between 1.6 million and 2.0 million tons, implying that wheat exports could drop by up to 64% from April last year.

IKAR maintained its April wheat export estimate at between 1.5 million and 1.7 million tons, compared with about 5 million tons in April last year.

Sovecon said that overall weather conditions were improving gradually.

"The central region may see temperatures 1–3 degrees Celsius below their normal level. The impact on crops is expected to be limited," the agency said in its weekly note.

Other Russian data provided by Sovecon and IKAR:

Product:
Most recent data:
Change from a week earlier

- Domestic 3rd class wheat, European part of Russia, excludes delivery (Sovecon)
16,225 rbls/t
-125 rbls/t

- Sunflower seeds (Sovecon)
39,850 rbls/t
-425 rbls/t

- Domestic sunflower oil (Sovecon)
94,000 rbls/t
0 rbls/t

- Domestic soybeans (Sovecon)
38,400 rbls/t
+400 rbls/t

- Export sunflower oil (IKAR)
$1,125/t
+$5

- White sugar, Russia's south (IKAR)
$687.37/t
-$4.51/t

07.04.25

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