Russian wheat prices firm on exporters' demand
13 января 2010 года
MOSCOW, Nov 30 (Reuters) - Russian wheat prices firmed last week on stronger demand from exporters after the latest Egyptian tender, analysts said on Monday.
Russian ordinary milling wheat with one percent bug damage rose by $2 from the previous week to $198, FOB Novorossiisk, the Institute for Agricultural Market Studies (IKAR) said.
But wheat with higher bug damage was valued lower at about $187-$189 per tonne, it said.
Egyptian government wheat buyer GASC, the General Authority for Supply Commodities, bought 240,000 tonnes of Russian wheat last week from four separate traders all at $198.75 per tonne.
SovEcon agricultural analysts said average prices for third- and fourth-grade wheat rose by 50 roubles ($1.73) in the European part of Russia to 4,100 roubles per tonne and to 3,925 roubles per tonne, respectively.
Exporters were reported to have increased their activity in western Siberia, where local wheat has the lowest level of bug damage, it said.
IKAR said that in southern Russia third-grade wheat ex-silo prices were stable at $149 per tonne, while fourth-grade wheat added $2 to $139 per tonne and feed wheat $1 to $119.
Barley and maize prices were stable at $92 and $136 per tonne.
Grain exports were 9.4 million tonnes by November 22, down from last year's 9.8 million tonnes last year, wheat exports declined to 7.9 million tonnes from 8.7 million at the same date last year, IKAR said.
SovEcon said sunseed prices rose by 400 roubles to 10,225 roubles per tonne and sunoil by 675 roubles to 25,675 roubles per tonne. It said many crushers have been actively buying seeds and raising prices last week.
Sugar prices rose last week after several weeks of decline caused by rising beet sugar supply, IKAR said. In Krasnodar, the price was $831 per tonne, compared to $815 a week before.
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