IKAR in Mass Media

Russian Wheat Down With Global Benchmarks After Rising For Six Weeks

09 декабря 2021 года

Russian wheat fell last week after rising for six weeks as a report that the world’s largest wheat exporter is considering an export quota that would be less restrictive than feared hit prices in Chicago and Paris, analysts said on Monday. Russian wheat with 12.5% protein loading from Black Sea ports for supply in December was quoted at $337 a tonne free on board (FOB) at the end of last week, down $3 from the previous week, the IKAR consultancy said in a note.

Sovecon, another consultancy, pegged wheat down $3 to $340 a tonne, while barley fell by $1 to $304 a tonne. Russia is considering setting its grain export quota at 14 million tonnes, including 9 million tonnes of wheat, for Feb. 15-June 30, a source familiar with discussions told Reuters. No final decision has been made. It is “a relatively non-restrictive” size of quota, Sovecon said in its note, adding that it estimates Russia’s exportable surplus for the period at 9-10 million tonnes of wheat. Russian wheat exports are down by 36.5% since the start of the 2021/22 marketing season on July 1, due to a smaller crop and the export tax, which will rise to $84.90 per tonne this week.

Other Russian data provided by Sovecon and IKAR: Product: Price at the end Change from week of last week: earlier – Domestic 3rd class 15,375 roubles +75 rbls wheat, European part ($208)/t of Russia, excludes delivery (Sovecon) – Sunflower seeds 37,175 rbls/t +1,525 rbls (Sovecon) – Domestic sunflower 87,000 rbls/t -1,000 rbls oil (Sovecon) – export sunflower $1,360/t -$50 oil (Sovecon) – export sunflower $1,365/t -$35 oil (IKAR) – soybeans (Sovecon) 48,000 rbls/t -1,000 rbls – white sugar, $645.4/t +$2 Russia’s south

Source: Reuters | #grain | Comments: 0 Views: 8

There are no comments yet. Be the first!

Only authorized users can comment.