IKAR in Mass Media

Russian wheat down with global benchmark as Ukraine exports resume

19 августа 2022 года

MOSCOW, Aug 8 (Reuters) - Russian wheat export prices fell last week after a decline in wheat prices in Chicago and a gradual resumption of Ukraine exports from Black Sea ports, analysts said on Monday.

Russian prices for wheat with 12.5% protein content and for supply from Black Sea ports fell by $3 to $355 a tonne free on board (FOB) at the end of last week, the IKAR agriculture consultancy said in a note.

Russia exported 780,000 tonnes of grain last week, compared with 650,000 tonnes the previous week, said fellow consultancy Sovecon, citing port data.

In the domestic market, prices for food wheat fell in the southern part of the country amid strong demand from exporters, while prices for low-quality fifth-grade wheat continued to fall sharply as supply rises sharply.

"There is a lot of talk about 'record-low quality this year' but this is typical for bumper crop years like the current one," Sovecon said.

Other Russian data provided by Sovecon and IKAR:

 Product:                Price at the end     Change from week
                            of last week:              earlier
 - Domestic 3rd class       12,950 rbls/t             -50 rbls
 wheat, European part            ($215.5)  
 of Russia, excludes                       
 delivery (Sovecon)                        
 - Sunflower seeds          25,200 rbls/t            -225 rbls
 (Sovecon)                                 
 - Domestic sunflower       73,075 rbls/t            +400 rbls
 oil (Sovecon)                             
 - Domestic soybeans        34,100 rbls/t             -50 rbls
 (Sovecon)                                 
 - Export sunflower              $1,390/t                 +$60
 oil (Sovecon)                             
 - Export sunflower              $1,330/t                 +$60
 oil (IKAR)                                
 - White sugar,                   1,087/t                 -$34
 Russia's south                            
 (IKAR)                                    
    The harvesting data provided by Sovecon as of Aug 4*:
                      All grains:          Wheat        Barley
 Crop, mln tonnes            56.5           48.9           5.8
 Crop, as of same            64.6           49.0          10.9
 date in 2021                                     
 Yield,                      4.26           4.45          4.02
 tonnes/hectare                                   
 Yield, as of same           3.18           3.42          2.83
 date in 2021                                     
 Harvested area,             13.3           11.0           1.5
 mln hectares                                     
 Harvested area, as          20.3           14.3           3.9
 of same date in                                  
 2021

* Russia's agriculture ministry has yet to publish harvesting data in detail for the current season. ($1 = 60.1000 roubles)

Source: Reuters | #grain | Comments: 0 Views: 3

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