IKAR in Mass and Industry Media

Russian wheat prices flat for two weeks, weather yet to have a significant impact

Reuters

MOSCOW, May 19 (Reuters) - Russian wheat export prices remained unchanged last week, with weather factors not yet having a significant impact on the crop, analysts said.

The price for Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in June remained at the same level as a week earlier - $247 per metric ton, said Dmitry Rylko, head of the IKAR consultancy. The new crop wheat price was $227 per ton FOB, down from initial estimates in late April - early May of $235 per ton.

IKAR expects wheat exports in May to be 1.8-2.0 million tons.

The Sovecon consultancy estimated prices for Russian wheat with 12.5% protein content also unchanged - $247-249 per ton FOB.

Sovecon estimated May wheat exports at 1.8 million tons.

During the last week Algeria and Saudi Arabia bought wheat on state tenders, including Russian origin.

Last week, two regions of the Russia - Belgorod and Voronezh - declared a state of emergency due to frosts. Agriculture Minister Oksana Lut said crops had died on an area of just over 100,000 hectares and is estimated at only about 10% of last year's damage, noting that it was mainly the Black Earth region that was affected.

"We have so far decided not to change our (crop) forecasts, as the previous ones already assumed such a situation," Rylko said, noting that he sees the drought in the Rostov region and Krasnodar as a threat to the harvest, rather than the past frosts in the centre of the country.

Sovecon called the past frosts not critical for the winter wheat harvest, considering the weather as a whole favourable for the new crop.

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)
16,125 rbls/t
-100 rbls/t

- Sunflower seeds (Sovecon)
39,175 rbls/t
-275 rbls/t

- Domestic sunflower oil (Sovecon)
93,000 rbls/t
-175 rbls/t

- Domestic soybeans (Sovecon)
38,200 rbls/t
0 rbls/t

- Export sunflower oil (IKAR)
$1,105/t
-$5

- White sugar, Russia's south (IKAR) (as for May 7 - 16)
$691.07/t
-$0.63/t

19.05.25

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