IKAR in Mass Media

Russian wheat export prices down under pressure from good crop

22 июня 2021 года

MOSCOW, June 21 (Reuters) - Russian export prices for the summer's new wheat crop fell last week under pressure from approaching good crop in the Black Sea area, analysts said on Monday.

Wheat exports from Russia, Ukraine and Kazakhstan are expected to rise by 5% in new 2021/22 marketing season, which starts on July 1, a Reuters poll showed last week.

Prices for new-crop Russian wheat with 12.5% protein loading from Black Sea ports and for supply in July were $248 a tonne free on board (FOB) at the end of last week, down $7 from the previous week, the IKAR agriculture consultancy said in a note.

Russia's wheat export tax, which Moscow changes each week, has risen by $10 since its launch on June 2 to $38.1 per tonne but still remains low compared with the level in May. This is expected to boost Russian exports in June.

The weather is improving both for winter and spring crops in Russia, Sovecon, another consultancy in Moscow, said.

Southern, Central and Volga regions saw good rains last week. This week is expected to be dry and warm - positive for southern farmers who will start harvesting within one or two weeks, it added.

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       13,775 roubles/t              -250 rbls
 class wheat,                 ($188.7)  
 European part of                       
 Russia, excludes                       
 delivery (Sovecon)                     
                                        
 - Sunflower seeds       45,925 rbls/t            -1,225 rbls
 (Sovecon)                              
 - Domestic             106,175 rbls/t            -6,500 rbls
 sunflower oil                          
 (Sovecon)                              
 - export sunflower           $1,100/t                  -$170
 oil (Sovecon)                          
 - export sunflower           $1,025/t                  -$242
 oil (IKAR)                                                  
 - Soybeans              49,400 rbls/t            -1,200 rbls
 (Sovecon)                              
 - white sugar,               $602.8/t                    -$8
 Russia's south                         
 (IKAR)                                 
 ($1 = 72.9870 roubles)

Source: Reuters | #grain | Comments: 0 Views: 5

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