IKAR in Mass and Industry Media

Russian wheat export prices remain high, forecasts for March exports rise

Reuters

MOSCOW, March 23 (Reuters) - Russian wheat export prices remained at the levels reached during the three-week rally triggered by the Iranian crisis, and analysts have raised their forecasts for March shipments amid an acceleration in exports.

The price of Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in late April and early May was $238 a metric ton at the end of last week, unchanged from the previous week, Dmitry Rylko, head of the IKAR consultancy, said.

Sovecon estimated the price for Russian wheat with 12.5% protein at $239 to $242 a ton FOB, compared with $238 to $240 the previous week.

Sovecon has raised its estimate of wheat exports in March to 4.2 million tons from 3.8 million tons last week, and IKAR to between 4.4 million and 4.6 million tons from 4.1 million to 4.4 million tons.

Rail carrier Rusagrotrans has estimated wheat exports this month at 4.3-4.5 million tons, which could be the second-best result since March 2023. According to its figures, around 2.1 million tons of wheat were exported from 1 to 16 March.

The sowing of early winter crops is gathering pace. Analysts believe that the weather is currently favourable for crops.

"It isn't causing any concern at the moment, although, of course, things could change very easily," said Rylko.

Sovecon has raised its forecast for Russia's 2026 wheat crop by 1.7 million metric tons to 87.6 million metric tons last week, citing generally favourable weather.

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)
14,350 rbls/t
+150 rbls/t

- Sunflower seeds (Sovecon)
36,300 rbls/t
-275 rbls/t

- Domestic sunflower oil (Sovecon)
95,350 rbls/t
0 rbls/t

- Domestic soybeans (Sovecon)
29,000 rbls/t
-400 rbls/t

- Export sunflower oil (IKAR)
$1,295
-$10/t

- White sugar, Russia's south (IKAR)
$693.07/t
-$2.52/t

23.03.26

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