IKAR in Mass and Industry Media

Russian wheat export prices stable due to demand from importers, limited shipments

Reuters

MOSCOW, Feb 9 (Reuters) - Increased demand from importers and bad weather in ports supported export prices for Russian wheat last week, offsetting forecasts of a strong new harvest, analysts said.

The price of Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in March was $231.0 a metric ton at the end of last week, the same as a week earlier, said Dmitry Rylko, head of the IKAR consultancy.

Sovecon estimated the price for the same type of Russian wheat at $230-$233 a ton FOB, compared with $229-$231 at the end of the previous week.

IKAR's first estimate of exports in February is 3.0-3.3 million tons.

The Sea of Azov's frozen condition and Black Sea storms continued to severely limit shipments, Rylko noted.

"Many regular buyers of Russian wheat have stepped up purchases in recent weeks ahead of Ramadan, which begins on February 17. Egypt has been actively booking Russian, Ukrainian and French wheat. In the second half of January, Saudi Arabia and Algeria held large tenders," Sovecon said in a weekly note.

The situation in the Sea of Azov is negatively affecting supplies to Turkey, analysts noted.

Expecting higher prices, farmers were also postponing sales, Sovecon said.

It estimated February wheat exports at 3.1 million tons. Rail carrier Rusagrotrans estimated exports at about 3.3 million tons last week.

The share of Russian crops in normal condition as of February 5 stood at 97% compared to 87% in the same period of 2025, Deputy Prime Minister Dmitry Patrushev said on Thursday.

"Overall, the winter crop setup has improved, with limited winterkill risk for now and ample snow cover that could support spring moisture", Sovecon said.

The 2025 grain harvest was the third largest in history, Patrushev said, at 147 million tons, including 93 million tons of wheat.

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)
13,575 rbls/t
+150 rbls/t

- Sunflower seeds (Sovecon)
36,375 rbls/t
+300 rbls/t

- Domestic sunflower oil (Sovecon)
94,600 rbls/t
+250 rbls/t

- Domestic soybeans (Sovecon)
29,400 rbls/t
+300 rbls/t

- Export sunflower oil (IKAR)
$1,310
+$5

- White sugar, Russia's south (IKAR)
$689.75/t
-$3.4

09.02.26

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