IKAR in Mass and Industry Media

Russian wheat export prices up last week, shipments low at season's start

Reuters

MOSCOW, July 7 (Reuters) - Russian wheat export prices rose towards the end of last week along with global prices, while shipments at the start of the season remain low.

The price for new crop Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in August was $225 per metric ton at the end of last week, up $3 from the previous week's prices, said Dmitry Rylko, head of the IKAR consultancy.

"In my opinion, the price has risen, as it is still obvious that our harvest is not expected to be an outstanding one. In addition, exports from Europe and Ukraine have dried out, and this also had an impact," he said.

The SovEcon consultancy estimated new crop offers at $225-$228 per ton, at the same level as a week earlier.

Wheat exports last week fell to 0.1 million tons from 0.19 million tons a week before, the agency said.

Sovecon maintained its estimate of wheat exports in June at 1.2 million tons. IKAR has raised its estimate to 1.3 million tons from 1.2 million tons.

IKAR's wheat export estimate for July is between 2.2 and 2.3 million tons.

The export duty on wheat, which the Russian Ministry of Agriculture calculates weekly, fell to zero for the first time last week. It will be in effect during the second week of the new season from July 9 to July 15.

On Friday, the agriculture ministry reported that the sowing campaign in Russia was almost complete. According to the data of SovEcon, sown areas under spring wheat decreased to 11.2 million hectares from 12.6 million hectares last year.

As of July 2, Russian farmers had harvested 3.8 million tons of grains, sharply down from 16.5 million tons at the same time in 2024. The average yield was 3.1 tons per hectare, versus 4.1 tons per hectare last year and a five-year average of 3.7 tons per hectare.

"Overall, crop conditions are favourable. Dry weather in the South aids harvesting, while rain supports spring crop development elsewhere," SovEcon said in a 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)
14,700 rbls/t
-25 rbls/t

- Sunflower seeds (Sovecon)
34,275 rbls/t
-225 rbls/t

- Domestic sunflower oil (Sovecon)
86,000 rbls/t
0 rbls/t

- Domestic soybeans (Sovecon)
33,000 rbls/t
0 rbls/t

- Export sunflower oil (IKAR)
$1,090/t
+$5

- White sugar, Russia's south (IKAR)
$672.75/t
-$18.98/t

07.07.25

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