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IKAR in Mass Media

Russian grain prices stable or edge up

10 ноября 2009 года

MOSCOW, Oct 12 (Reuters) - Russian grain prices either held steady or edged up last week mainly due to a weaker dollar and as exporters showed willingness to buy at higher prices to fulfil urgent contracts, analysts said on Monday.

"However, it is too early to speak about the end of the seasonal downward trend," SovEcon agricultural analysts said in a weekly report.

"We will have to wait and see how the Siberian factor influences the market. High grain supply from Siberia may push prices down in many parts of the European Russia."

Ordinary wheat forward export prices were stable at around $163 per tonne, feed barley prices at $125-$130 per tonne, FOB Novorossiisk, the Institute for Agricultural Market Studies (IKAR) said.

Wheat prices, including delivery to port, rose slightly in Novorossiisk to 4,500-4,600 roubles per tonne ($152-$155.4) from 4,440-4,600 the week before, while in shallow water ports they rose to 4,200-4,300 roubles from 4,000-4,200 roubles, SovEcon said.

Maize export price rose to $165 per tonne, IKAR said.

SovEcon said average domestic maize offer prices rose by 50 roubles to 4,250 per tonne. Distillers were actively buying maize as the harvesting campaign had been delayed by bad weather, which was changing for the better, it said.

IKAR said third-grade wheat added $2 to stand at $143 per tonne in the south of Russia, fourth-grade wheat $5 to $125, feed wheat $1 to $94 and feed barley $8 to $85, while maize rose by $2 to $128 per tonne.

Exporters were complaining that producers shifted most of grain shipments to trucks from rail which increased their capacity to exercise pressure on traders, who would prefer to pay higher prices for fear of large demurrages caused by delays.

Grain exports from the start of the crop year in July to the beginning of October are estimated to have marginally exceeded 6 million tonnes, down from 6.45 million a year ago, IKAR said. Wheat exports are estimated to have declined to 4.980 million tonnes from 5 million tonnes.

IKAR has increased its grain output forecast again to 94.8 million tonnes from a previous estimate of 94.0 million.

The bearish trend on the domestic oilseed market continued last week, analysts said.

The week ended with IKAR sunseed price index at $309 per tonne compared to $306-$313 per tonne the week earlier, IKAR said.

SovEcon said average offer prices for sunseeds declined by 600 roubles to 9,500 roubles ($320.9) per tonne, while most crushers offered to buy at 9,000 per tonne and some even at 8,000 per tonne.

Crude sunoil prices fell to $809 per tonne from $815-$825 per tonne the week before, IKAR said. SovEcon said sunoil lost 750 roubles per tonne on the average, declining from previous week's 25,250 roubles per tonne.

IKAR said soybean oil fell by almost $50 to $740-$745 per tonne. Only rapeseed oil rose slightly to $793 on strong export demand.

Sugar prices rose to 24.1 roubles per kilo from 22.5 roubles the week before in Krasnodar, IKAR said, adding that it expected prices to level in the near future, as sugar refining from beets still exceeded current consumption rate.

Source: Reuters  |  #grain   |  Comments: 0   Views: 38

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