IKAR in Mass and Industry Media

Russian new crop wheat exports still unchanged, June export estimates fall

Reuters

MOSCOW, June 9 (Reuters) - Prices for new crop Russian wheat were unchanged last week, with analysts lowering their estimates for June exports amid low market activity.

The price for new crop Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in the second half of July was $225 per metric ton, same as a week ago, said Dmitry Rylko, head of the IKAR consultancy.

The Sovecon consultancy estimated new crop offers at $225–230 per ton, as in the week before.

Sovecon lowered its estimate of wheat exports in June to 1.7 million tons from 1.9 million tons. IKAR lowered its estimate to no higher than 1 million tons from 1.2 million tons last week.

Rail carrier Rusagrotrans' estimate is 1.1 million tons, down from last year's record of 4.64 million tons but close to the 1.2 million tons in June 2022, three years ago.

A total of about 40.9 million tons of wheat was exported between July 2024 and May this year (50.9 million tons a year earlier), Rusagrotrans wrote.

Many Russian regions have already completed the sowing campaign, while harvesting has started in Crimea.

The weather situation for the new harvest remains uneven.

While in most of the Volga region, in the centre, and the south of the country, conditions are improving due to the forecasted rains this week, in the western parts of the Krasnodar region, Rostov region, Orenburg region, and adjacent areas, dry weather is consolidating. Additionally, the forecast for western Siberia is worsening, Rylko said.

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)
15,300 rbls/t
-225 rbls/t

- Sunflower seeds (Sovecon)
36,825 rbls/t
-800 rbls/t

- Domestic sunflower oil (Sovecon)
91,250 rbls/t
0 rbls/t

- Domestic soybeans (Sovecon)
35,700 rbls/t
-1,300 rbls/t

- Export sunflower oil (IKAR)
$1,100/t
-$5

- White sugar, Russia's south (IKAR)
$644.51/t
-$20.46/t

09.06.25

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