IKAR in Mass and Industry Media

Russian wheat export prices rose last week, but concerns about new harvest remain

Reuters

MOSCOW, July 28 (Reuters) - Russian wheat export prices continued to rise last week even as dry weather in the south of the country raised concerns about the harvest, while new wheat deliveries to ports were still picking up pace, analysts said.

The price for new crop Russian wheat with 12.5% protein content for free-on-board delivery in the second half of August was $239 per metric ton at the end of last week, up $3 from the previous week, said Dmitry Rylko, head of IKAR consultancy. He noted a gradual increase in activity in the delivery of new crop wheat to ports.

SovEcon consultancy estimated offers at $239-$242 per ton, compared with $228–$230 in the prior week.

"Exporters are actively securing volumes for scheduled vessels. Farmers are holding back, expecting further price gains," analysts at SovEcon said.

The export duty on wheat in Russia will remain at zero for the fourth consecutive week, until August 5.

Russia on Friday suspended floating duty rates on sunflower oil and sunflower meal until August 31 to boost exports and help local producers.

SovEcon reduced its export estimate for July to 2.1 million tons from 2.4 million tons last week, compared with 3.9 million tons in July 2024.

IKAR still retains its wheat export estimate for July at about 2 million tons.

Russia has trimmed its forecasts for the 2025 wheat harvest and for wheat exports in the 2025/26 marketing season, Agriculture Minister Oksana Lut said last week.

Heavy rains continued to disrupt the harvest in many regions, risking grain quality. Krasnodar, Stavropol and parts of the Volga Valley remained dry. Dry weather will speed up harvesting, SovEcon 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)
14,400 rbls/t
+225 rbls/t

- Sunflower seeds (Sovecon)
34,250 rbls/t
+200 rbls/t

- Domestic sunflower oil (Sovecon)
86,000 rbls/t
+500 rbls/t

- Domestic soybeans (Sovecon)
33,700 rbls/t
+200 rbls/t

- Export sunflower oil (IKAR)
$1,110/t
0

- White sugar, Russia's south (IKAR)
$653.06/t
-$11.99/t

28.07.25

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