IKAR in Mass and Industry Media

Russian wheat export prices slightly up, weekly shipments maintain pace

Reuters

MOSCOW, Nov 10 (Reuters) - Russian wheat export prices rose slightly last week, and weekly shipments are maintaining their pace, according to analysts.

The price for Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in mid-December was at $232 a metric ton at the end of last week, up $1.5 in a week, said Dmitry Rylko, head of the IKAR consultancy.

He called it a small seasonal increase, partially related to compensation for storage costs. "There should be no illusions here. By and large, nothing has changed," Rylko said.

The Sovecon consultancy estimated the price for Russian wheat with 12.5% protein content at $232 to $233 a ton FOB compared with $230 to $233 a ton the previous week.

Sovecon's first estimate of November wheat exports is 4.7 million tons.

IKAR this week estimated November exports at 5.2 million-5.4 million tons, which is slightly lower than 5.3 million-5.5 million tons predicted a week earlier.

Export demand for wheat remained relatively firm in ports, while supply was limited, Sovecon said. Analysts see high supply in non-southern areas, where harvest pressure remains strong.

Russia is considering a grain export quota of 20 million tons for the second half of the marketing season, from February 15 to June 30, 2026, according to a draft document published by the Russian Grain Union lobby last week.

Last year, the quota was set at 10.6 million tons, and applied only to wheat and meslin.

"We believe the proposal is overall neutral for Russian exports in 2025/26. We estimate wheat exports during the quota period at around 15 million tons, with total grain exports unlikely to reach the 20 million tons ceiling," 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)
14,125 rbls/t
-125

- Sunflower seeds (Sovecon)
35,300 rbls/t
-325 rbls/t

- Domestic sunflower oil (Sovecon)
94,500 rbls/t
-175 rbls/t

- Domestic soybeans (Sovecon)
29,900 rbls/t
-1,900 rbls/t

- White sugar, Russia's south (IKAR)
$616.86/t
-$5.52

10.11.25

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