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Russian grain offers up in export focussed areas

10 сентября 2009 года

MOSCOW, Aug 3 (Reuters) - Offer prices for Russian grain in export-oriented regions rose last week but fell in others, while export prices remained stable, analysts said on Monday..

Exporters' bid prices were largely unchanged last week, SovEcon agricultural analysts said.

Exporters offered to buy standard fourth-grade wheat at 5,000-5,100 roubles ($160.5-$163.7) per tonne in Novorossiisk and at 4,600 roubles in shallow water ports, third-grade wheat at 5,300-5,400 roubles in Novorossiisk, it said.

"Traders eye without optimism export prospects after Russian wheat failed to win at the latest Egyptian tender," SovEcon said.

"Russia has lost another Egypt's government purchase tender, which has increased further concerns about the country's export capacity in the current season," the Institute for Agricuiltural Market Studies (IKAR) agreed.

Wheat export market remained in the region of $175 per tonne, while feed barley export prices pressed by neighboring Ukraine were $135 per tonne, FOB Novorossiisk, IKAR said.

It said offer prices in the south have increased in rouble terms, as there was a competition between exporters, who needed to fulfill their export obligations, and producers were not willing to supply at prices affordable to exporters.

IKAR's index for southern Russian ex-silo prices has been increased to 4,600 roubles per tonne from 4,300 for third-grade wheat, to 4,200 from 3,600 for fourth-grade wheat, to 3,000 from 2,900 for feed wheat, and to 2,600 from 2,500 for feed barley.

In other regions, prices fell for most cereals as the harvesting campaign progressed, SovEcon said.

Milling rye lost 200 roubles per tonne, feed wheat 100 roubles. Average new crop fourth-grade wheat prices rose by some 50 roubles per tonne, as producers expected the government to start buying grain to its stocks, it said.

"SovEcon expects the rise in the south of Russia to stop soon, as the market there looks overheated with high domestic prices and low international prices," SovEcon said.

"A downward trend is likely to set in until the government starts grain purchases, or international prices rise," it said.

Both SovEcon and IKAR has revised downwards their 2009 crop forecasts on the basis of the harvesting campaign progress.

SovEcon has cut its forecast to 87-92 million tonnes from previous 91-95 million, IKAR to 90.5 million tonnes from previou 94 million. The official grain crop forecast is 85 million tonnes, compared with last year's bumper crop of 108.1 million.


Russian sunoil prices strengthened last week to $725, FOB Novorossiisk due to a global oilseeds price rise, IKAR said. SovEcon estimated the price higher, at $740, FOB Black SEA.

Domestic crude sunoil prices increased slightly, while sunseed purchase prices continued to weaken due to unusually high stocks, IKAR said.

SovEcon said domestic sunoil prices rose by some 200 roubles per tonne last week.

Russian white sugar prices rose both in dollar and rouble terms on limited supply reaching $765 per tonne in Krasnodar compared to $743 a week earlier, IKAR said. It expected a further price increase this week, although the market is very thin.

Source: Reuters  |  #grain   |  Comments: 0   Views: 47

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