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IKAR in Mass Media

Russian grain prices little changed week-on-week

03 октября 2009 года

MOSCOW, Sept 21 (Reuters) - Russian grain prices changed little in the last week, save for a slight decline in rouble terms due to the currency strengthening versus the dollar, analysts said on Monday "We are under the impression that the market is close to the bottom line... and further decline is unlikely," the Institute for Agricultural Market Studies (IKAR) said.

It said last week FOB prices in Novorossiisk remained at $158-$160 per tonne for ordinary milling wheat and at $125-$130 per tonne for feed barley.

In rouble terms, prices declined last week due to a substantial strengthening of the national currency against the dollar , SovEcon agricultural analysts said.

Bid prices for fourth-grade (ordinary) wheat declined to 4,200-4,500 roubles ($138.2-$148.1) per tonne CPT Novorossiisk from recent 4,500-4,600 roubles, while at shallow water ports prices declined to 4,000-4,200 roubles.

Domestic prices have not changed much in dollar terms, IKAR said. Price indexes remained practically the same for third-grade wheat at $130 per tonne, for fourth-grade wheat at $116 per tonne, and for feed wheat at $95 per tonne.

It said feed barley lost $4, declining to $83 per tonne, while maize prices rose by $3 to $158 per tonne.

SovEcon said third-grade milling wheat prices lost 500 roubles per tonne in Siberia last week, declining to 4,500-4,600 roubles per tonne, on high crop and absence of news about the start of the government intervention purchases.

SovEcon believes that the Siberian market may fall below the price levels of the European part of Russia if the government keeps delaying the purchases.

In the European part of Russia, prices for third- and fourth-grade wheat lost 100 roubles, declining on the average to 4,250 roubles and 3,775 roubles per tonne, respectively.

Traders offered to buy maize in the south of Russia, where its harvesting has started, at 3,300-3,500 roubles per tonne, but there have been no deals at this price so far, SovEcon said.

Sunseed harvesting in the south of Russia is approaching its zenith, although it is lagging behind the last year's schedule, IKAR said.

Sunseed rouble-denominated prices were unchanged at around 9,500 roubles per tonne, while dollar prices have slightly strengthened, it said. New crop soybean prices are kept at $395-$455 per tonne, depending on the protein content.

SovEcon said most crushers had raised CPT prices to 9,500-10,200 roubles per tonne from recent 9,000-10,000 roubles, while crude sunoil offer prices fell 100 roubles to 28,895 roubles which is higher than the export FOB price of $730.

Dollar-denominated white sugar prices fell in Krasnodar to $768 per tonne from $777, ex-factory, IKAR said. It expects a further decline of domestic prices due to rising domestic beet sugar supply.

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

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