IKAR in Mass Media

Russian wheat export prices steady due to a stronger rouble

08 июня 2021 года

MOSCOW, June 7 (Reuters) - Russian export prices for the summer's new wheat crop were steady last week due to a stronger rouble, which was supported by higher oil prices, analysts said on Monday.

Prices for new-crop Russian wheat with 12.5% protein loading from Black Sea ports and for supply at the end of July were $256 a tonne free on board (FOB) at the end of last week, unchanged from the previous week, the IKAR agriculture consultancy said in a note.

Sovecon, another consultancy, said that barley rose by $2 to $247 a tonne.

Russia's wheat export tax, which Moscow started setting each week from June, is gradually rising but remains low compared with the level in May.

IKAR raised its forecast for Russia's 2021 wheat crop by 500,000 tonnes to 80.0 million tonnes on Monday.

Healthy rains in Russia's southern regions last week improved the condition of most of winter and spring sowings before harvesting starts in late June or early July.

However, in parts of the regions rains were excessive. "In some cases, it was too much and may lead to quality problems due to fusariosis," Sovecon said.

This week, rains are expected to arrive to other spring wheat producing regions - the Volga, the Urals and Siberia - which were dry before.

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

 Product:             Price at the end       Change from week
                         of last week:                earlier
 - Domestic 3rd       14,200 roubles/t              -125 rbls
 class wheat,                   ($195)  
 European part of                       
 Russia, excludes                       
 delivery (Sovecon)                     
 - Sunflower seeds       52,175 rbls/t              -925 rbls
 (Sovecon)                              
 - Domestic             116,350 rbls/t            -2,000 rbls
 sunflower oil                          
 (Sovecon)                              
 - export sunflower           $1,290/t                  -$180
 oil (Sovecon)                          
 - export sunflower           $1,300/t                  -$150
 oil (IKAR)                                                  
 - Soybeans              52,400 rbls/t              unchanged
 (Sovecon)                              
 - white sugar,                 $602/t                  -$3.8
 Russia's south                         
 (IKAR)                                 
 ($1 = 72.7800 roubles)

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

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