IKAR in Mass Media

Russian wheat export prices rise with global benchmarks

12 мая 2021 года

MOSCOW, May 11 (Reuters) - Russian wheat export prices rose in the first 10 days of May, supported by higher prices in Chicago and Paris on corn supply concerns and despite low market activity during Russia's May 1-10 official holiday, analysts said on Tuesday.

Russian wheat with 12.5% protein loading from Black Sea ports for supply in June was at $278 a tonne free on board (FOB) at the end of last week, up $13 from late April, the IKAR agriculture consultancy said.

Sovecon, another consultancy, said that wheat prices rose by $4 to $274 a tonne, while barley was up $2 at $247 a tonne.

"Trading activity at export terminals was close to zero. Many traders were on vacation while farmers were busy in fields. However, bids continued to rise on stronger demand," Sovecon said in a note.

Weather remains favourable for Russia's coming wheat crop with healthy rains in Russia's central and Volga regions the previous week. The southern regions were a bit dry but more rains are expected this week, Sovecon said.

IKAR said that it reduced its forecast for Russia's 2021 wheat crop by 500,000 tonnes to 79 million tonnes. It expects Russia's carry-over stocks at June 30, when the current 2020/21 marketing season ends, to be 12 million tonnes.

Following is a summary of other Russian data provided by Sovecon and IKAR:

 Product:             Price at the end       Change from late
                         of last week:                  April
 - Domestic 3rd       14,225 roubles/t              unchanged
 class wheat,                 ($192.4)  
 European part of                       
 Russia, excludes                       
 delivery (Sovecon)                     
 - Sunflower seeds       52,875 rbls/t              unchanged
 (Sovecon)                              
 - Domestic             115,025 rbls/t              unchanged
 sunflower oil                          
 (Sovecon)                              
 - export sunflower           $1,545/t              unchanged
 oil (Sovecon)                          
 - export sunflower           $1,530/t                   -$20
 oil (IKAR)                                                  
 - Soybeans              49,100 rbls/t              unchanged
 (Sovecon)                              
 - white sugar,              $602.04/t                  -$1.6
 Russia's south                         
 (IKAR)                                 
 ($1 = 73.9400 roubles)

Source: Reuters | #grain | Comments: 0 Views: 6

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