IKAR in Mass Media

Russian wheat export prices down ahead of new crop

24 мая 2016 года

MOSCOW - Russian wheat export prices fell last week ahead of the new crop, which is likely to arrive in July, and following a slide in global benchmarks, analysts said on Monday.

Black Sea prices for Russian wheat from the old crop with 12.5 percent protein content were $191.5 per metric ton on a free-on-board (FOB) basis at the end of last week, Russian agricultural consultancy IKAR said in a note.

Prices for the new crop with supply in July and August were $176.5 per metric ton, IKAR added. Chicago wheat futures slid for the fourth consecutive session on Monday on ample global supplies and a strong dollar.

Russia exported 31.9 million metric tons of grains, including 23.0 million metric tons of wheat, between July 1 and May 18, the agriculture ministry said. The pace of grain exports was up 13 percent year on year.

Towards the end of this week, Russia's grain exports, already running at a record level after the last year's large crop, are likely to reach 33 million metric tons, including 23.3 million metric tons of wheat, IKAR said.

Domestic prices for third-class wheat added 200 roubles compared with the end of last week to 11,175 roubles ($168) a metric ton in the European part of Russia on an ex-works basis, according to SovEcon, another Moscow-based consultancy.

Ex-works supply does not include delivery costs.

Rainy weather has slowed the pace of spring grain sowing in recent days but it is still running ahead of last year's pace, SovEcon said.

Farmers had sowed spring grains on 68 percent of the planned area - 21.1 million hectares by May 20, up from 18.8 million hectares on the same date a year ago.

Spring wheat was sown on 59 percent of the planned area, or 7.8 million hectares, up from 6 million hectares, according to the agriculture ministry.

SovEcon also said average prices for sunflower seeds were up 450 roubles at 24,075 roubles a metric ton. Domestic sunflower oil prices rose 575 roubles to 53,825 roubles a metric ton, while FOB Black Sea export prices added $5 to $810 a metric ton.

IKAR's white sugar price index for southern Russia was at $619 a metric ton at the end of last week, up $3.5 from a week earlier.

Russia, Kazakhstan and Belarus will keep raw sugar import tariffs in June flat at the previous month's level of $227 per metric ton, the Russian Sugar Producers' Union said. The tariff is expected to fall to $203 per metric ton in July, the Union added.

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Source: Agweek.com | | Comments: 0 Views: 57

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