IKAR in Mass and Industry Media

Russia wheat prices flat, May holidays stifle trade

Reuters

MOSCOW, May 15 (Reuters) - Russian wheat prices were little changed early this month with activity limited by the May holidays that eliminated several trading sessions, analysts said.

SovEcon analysts wrote that the purchase price of wheat with 11.5 percent protein content in Russian deep-water ports was unchanged at 7,300-7,500 roubles ($240-$250) per tonne on a carriage-paid-to (CPT) basis.

"Sources in the trade community said some exporters raised prices to 7,800-7,900 roubles per tonne, which can likely be linked to the need to quickly cover existing contracts," SovEcon said.

The Institute for Agriculture Market Studies (IKAR) also reported prices for wheat with 11.5 percent protein content at $242 per tonne at Rostov and Azov, while Novorossiysk stood at $263.

Intervention tenders continued, with grain sales reaching 1.4 million tonnes as of May 4, including 1.08 million tonnes of wheat, SovEcon said.

Its analysts also reported a slight increase in prices for third class milling wheat, which rose 50 roubles per tonne to 6,600 roubles per tonne. Fourth class milling wheat was unchanged at 6,500 roubles per tonne, while feed wheat was unchanged at 6,150 roubles per tonne, it added.

Sovecon also said that sunseed prices rose 300 roubles to 13,800 roubles per tonne, while crude sunoil prices rose 625 roubles to 35,675 roubles per tonne

15.05.12

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