IKAR in Mass Media

Russian wheat prices up, export pace slows

17 мая 2022 года

May 16 (Reuters) - Russian wheat export prices rose last week with higher wheat prices in Chicago, analysts said on Monday, adding that the country's exports were slowing down due to seasonal factors.

Prices for wheat with 12.5% protein content for supply in May from Black Sea ports were at $390 free on board (FOB) at the end of last week, up $5 from a week earlier, the IKAR agriculture consultancy said.

Sovecon, another consultancy, said, citing data from ports, that Russia exported 330,000 tonnes of grains last week compared with 440,000 tonnes a week earlier.

The consultancy expects the pace of wheat exports from Russia to slow to 1 million tonnes in May from 2.2 million tonnes in April as the state export quota is being depleted.

In the domestic market, prices fell due to strong rouble currency and higher supply from farmers who need to clean up their storage before the new crop arrives in summer.

Russia's 2022 wheat crop is expected to reach a record-high of 87 million tonnes, President Vladimir Putin said last week.

Spring grains were planted on 12.6 million hectares as of May 12 vs 11.5 million hectares a year ago as the sowing accelerated in Russia's Volga region, Sovecon said.

The weather remains very good for the upcoming crop, Sovecon said, adding that farmers across almost all key regions report good conditions for winter wheat.

Other Russian data provided by Sovecon and IKAR:

 Product:               Price at the end     Change from week
                           of last week:              earlier
 - Domestic 3rd class      15,875 rbls/t            -175 rbls
 wheat, European part          ($248.91)  
 of Russia, excludes                      
 delivery (Sovecon)                       
                                          
 - Sunflower seeds         40,650 rbls/t            -250 rbls
 (Sovecon)                                
 - Domestic sunflower     111,700 rbls/t          -2,650 rbls
 oil (Sovecon)                            
 - Domestic soybeans       50,500 rbls/t            -450 rbls
 (Sovecon)                                
 - Export sunflower       $1,900-2,000/t            unchanged
 oil (Sovecon)                            
 - Export sunflower             $1,940/t            unchanged
 oil (IKAR)                               
 - White sugar,                 $960.6/t                -$2.5
 Russia's south                           
 (IKAR)                                   
 ($1 = 63.7780 roubles)

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

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