IKAR in Mass and Industry Media

Russian wheat export prices are stable, analysts expect active shipments in November

Reuters

MOSCOW, Nov 1 (Reuters) - Russian wheat export prices have remained stable for the second week in a row, and analysts say exports are accelerating.

The price for Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in the first part of December was at $230.50 a metric ton at the end of this week, unchanged since the end of last week, said Dmitry Rylko, head of the IKAR consultancy.

The Sovecon consultancy estimated the price for Russian wheat with 12.5% protein content at $230 to $233 a ton FOB compared with $230 to 231 a ton the previous week.

"Exports were supported by the recovery in global demand for wheat and the growth in exporters' margins," Sovеcon said in a report. According to analysts, exporters' margins were negative at the beginning of October, but reached $4 per ton by the end of the month.

Sovecon left unchanged its estimate of October wheat exports at 5.1 million tons.

IKAR estimates that wheat exports in October may reach 5.7-5.8 million tons, while a week earlier the estimate was 5.5 million tons.

Analysts expect active exports in November, with weather not yet hindering shipments despite the expected stormy period this month.

The preliminary estimate of wheat exports from IKAR in November was 5.3-5.5 million tons.

At the beginning of the week, railway operator Rusagrotrans estimated October wheat exports at 5.65 million tons and forecasts November exports to be above the average for the last five years, at 4.6-5.0 million tons.

Аs of 28 October, 137 million tons of grain had been harvested in Russia in bunker weight, with 6% of the area remaining to be harvested, the Ministry of Agriculture said this week.

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)
14,250 rbls/t
0

- Sunflower seeds (Sovecon)
35,625 rbls/t
-325 rbls/t

- Domestic sunflower oil (Sovecon)
94,675 rbls/t
-825 rbls/t

- Domestic soybeans (Sovecon)
31,800 rbls/t
-1,000 rbls/t

- White sugar, Russia's south (IKAR)
$622.38/t
+$4.69

01.11.25

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