IKAR in Mass Media

Russian wheat prices fall with rising harvest pressure

30 августа 2022 года

MOSCOW, Aug 29 (Reuters) - Russian wheat export prices fell last week under pressure from the arrival of the new crop, analysts said on Monday, adding that exports remained sluggish.

Russian prices for wheat with 12.5% protein content and for supply from Black Sea ports fell by $10 to $315 a tonne free on board (FOB) at the end of last week, the IKAR agriculture consultancy said in a note.

Russia exported 660,000 tonnes of grain last week, compared with 850,000 tonnes the previous week, fellow consultancy Sovecon said, citing port data. It expects the shipments to accelerate in coming weeks.

Sovecon sees wheat prices for immediate supply at $312-318 per tonne compared to $334-337 a week ago.

Russia remained mostly dry last week and is expected to be dry and hotter than usual this week, Sovecon said, adding that farmers had already sown winter grains for the 2023 crop on 928,000 hectares compared to 1.0 million hectares around the same date in 2021.

Other Russian data provided by Sovecon and IKAR:

 Product:                Price at the end     Change from week
                            of last week:              earlier
 - Domestic 3rd class       11,925 rbls/t            -450 rbls
 wheat, European part            ($199.2)  
 of Russia, excludes                       
 delivery (Sovecon)                        
                                           
 - Sunflower seeds          26,100 rbls/t            unchanged
 (Sovecon)                                 
 - Domestic sunflower       74,025 rbls/t             +75 rbls
 oil (Sovecon)                             
 - Domestic soybeans        34,250 rbls/t            unchanged
 (Sovecon)                                 
 - Export sunflower              $1,430/t                 +$10
 oil (Sovecon)                             
 - Export sunflower              $1,320/t                 -$30
 oil (IKAR)                                
 - White sugar,                  $886.7/t               -$80.6
 Russia's south                            
 (IKAR)

The harvesting data provided by Sovecon as of Aug 25:

                      All grains:          Wheat        Barley
 Crop, mln tonnes           105.2           78.9          17.7
 Crop, as of same            86.4           63.2          15.3
 date in 2021                                     
 Yield,                      3.82           4.22          3.26
 tonnes/hectare                                   
 Yield, as of same           2.80           3.09          2.49
 date in 2021                                     
 Harvested area,             27.6           18.7           5.4
 mln hectares                                     
 Harvested area, as          30.9           20.5           6.2
 of same date in                                  
 2021

* Russia's agriculture ministry has yet to publish harvesting data in detail for the current season.

($1 = 59.8750 roubles)

Source: Reuters | #grain | Comments: 0 Views: 4

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