IKAR in Mass Media

Russian wheat prices up with high demand, strong rouble

19 сентября 2022 года

MOSCOW, Sept 19 (Reuters) - Russian wheat prices rose last week with high demand, strong rouble currency and concerns about the extension of the Ukraine grain export deal, analysts said on Monday.

Russian prices for wheat with 12.5% protein content and for supply from Black Sea ports rose by $5 to $317 a tonne free on board (FOB) at the end of last week, the IKAR agriculture consultancy said in a note.

Russia exported 1 million tonnes of grain last week, up from 640,000 tonnes the previous week, as lower wheat export tax supports traders' margins, fellow consultancy Sovecon said, citing port data.

Sovecon sees wheat for immediate delivery at $310-314 per tonne.

Rains arrived in parts of Russia's southern, central and Volga regions last week, Sovecon said, adding that farmers had already sown winter grain for the 2023 crop on 7.4 million hectares. That compares with 8.5 million hectares around the same date in 2021.

IKAR also said on Monday that it had raised its forecast for Russia's 2022 wheat crop by 2 million tonnes to 99 million tonnes.

Other Russian data provided by Sovecon and IKAR:

 Product:                Price at the end     Change from week
                            of last week:              earlier
 - Domestic 3rd class       12,600 rbls/t            +350 rbls
 wheat, European part            ($209.1)  
 of Russia, excludes                       
 delivery (Sovecon)                        
 - Sunflower seeds          23,925 rbls/t            -925 rbls
 (Sovecon)                                 
 - Domestic sunflower       75,675 rbls/t          +3,175 rbls
 oil (Sovecon)                             
 - Domestic soybeans        32,400 rbls/t            +500 rbls
 (Sovecon)                                 
 - Export sunflower              $1,270/t            unchanged
 oil (Sovecon)                             
 - Export sunflower              $1,120/t                 +$10
 oil (IKAR)                                
 - White sugar,                  $854.7/t               +$48.8
 Russia's south                            
 (IKAR)

Harvesting data provided by Sovecon as of Sept 15:

                      All grains:    Wheat   Barley        Corn
 Crop, mln tonnes           132.3     96.4     23.0         0.8
 Crop, as of same            99.4     70.8     17.5         1.4
 date in 2021                                        
 Yield,                      3.43     3.74     3.12        5.67
 tonnes/hectare                                      
 Yield, as of same           2.65     2.89     2.41        4.52
 date in 2021                                        
 Harvested area,             36.6     25.8      7.4         0.1
 mln hectares                                        
 Harvested area, as          37.5     24.5      7.3         0.3
 of same date in                                     
 2021

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

($1 = 60.2500 roubles)

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

There are no comments yet. Be the first!

Only authorized users can comment.