IKAR in Mass and Industry Media

Russian wheat export prices fell last week due to improved harvest forecast

Reuters

MOSCOW, June 16 (Reuters) - Russian wheat export prices decreased last week as a new crop approached the market and amid moderately positive harvest forecasts, analysts said.

The price for new crop Russian wheat with 12.5% protein content for free-on-board (FOB) delivery by July-end was $222 per metric ton, down $3 from last week's prices, said Dmitry Rylko, head of the IKAR consultancy.

The SovEcon consultancy estimated new crop offers at $225-$229 per ton, compared with $225–$230 the week before.

Sovecon lowered its estimate of wheat exports in June to 1.5 million tons from 1.7 million tons. IKAR maintained its estimate at up to 1 million tons.

The harvesting campaign started in a number of Russian regions.

Russia last week announced its first official forecast of a new crop of at least 135 million metric tons, noting that 93% of winter crops are in normal condition. Last year's harvest was 130 million tons.

SovEcon early last week raised its 2025 Russian wheat crop forecast by 1.8 million tons to 82.8 million tons due to good weather in southern regions such as Stavropol and Krasnodar, while noting that the situation in Rostov remains poor.

Last week, the Rostov region declared a state of emergency in ten districts due to drought conditions.

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)
15,225 rbls/t
-75 rbls/t

- Sunflower seeds (Sovecon)
36,450 rbls/t
-375 rbls/t

- Domestic sunflower oil (Sovecon)
89,500 rbls/t
-1,750 rbls/t

- Domestic soybeans (Sovecon)
35,200 rbls/t
-500 rbls/t

- Export sunflower oil (IKAR)
$1,100/t
0

- White sugar, Russia's south (IKAR) (for June 11)
$642.49/t
-$2.02/t

16.06.25

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