IKAR in Mass Media

Russian wheat prices up with global benchmarks

27 сентября 2022 года

MOSCOW, Sept 26 (Reuters) - Russian wheat prices rose last week, tracking gains in Chicago and Paris, inflated by concern over Black Sea supplies because of the Russia-Ukraine conflict, analysts said on Monday.

Russian prices for wheat with 12.5% protein content and for supply from Black Sea ports rose by $8 to $325 per tonne free on board (FOB) at the end of last week, the IKAR agriculture consultancy said in a note.

Russia exported 900,000 tonnes of grain last week compared with 1 million tonnes the previous week as a lower wheat export tax continues to support traders' margins, fellow consultancy Sovecon said, citing port data.

Sovecon sees wheat for immediate delivery at $315-319 per tonne, up from $310-314 per tonne a week ago. Some farmers report insufficient storage capacity, first of all in the Volga region, which is starting to harvest its huge sunflower crop, it added.

Other Russian data provided by Sovecon and IKAR:

 Product:                Price at the end     Change from week
                            of last week:              earlier
 - Domestic 3rd class       12,650 rbls/t             +50 rbls
 wheat, European part                      
 of Russia, excludes                       
 delivery (Sovecon)                        
 - Sunflower seeds          23,225 rbls/t            -700 rbls
 (Sovecon)                                 
 - Domestic sunflower       75,675 rbls/t            unchanged
 oil (Sovecon)                             
 - Domestic soybeans        32,400 rbls/t            unchanged
 (Sovecon)                                 
 - Export sunflower              $1,230/t                 -$40
 oil (Sovecon)                             
 - Export sunflower              $1,135/t                 +$15
 oil (IKAR)                                
 - White sugar,                  $835.7/t                 -$19
 Russia's south                            
 (IKAR)

Harvesting data provided by Sovecon as of Sept 22:

                    All grains:   Wheat  Barley  Corn  Sunseeds
 Crop, mln tonnes         137.9   100.0    23.6   1.5       2.1
 Crop, as of same         103.1    72.9    17.9   2.0       4.1
 date in 2021                                          
 Yield,                    3.36    3.65    3.10  5.92      2.12
 tonnes/hectare                                        
 Yield, as of same         2.63    2.84    2.39  4.53      1.63
 date in 2021                                          
 Harvested area,           41.0    27.4     7.6   0.3       1.0
 mln hectares                                          
 Harvested area,           39.2    25.6     7.5   0.4       2.5
 as of same date                                       
 in 2021

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

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

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