Russian wheat prices fall on sluggish demand - analyst
18 октября 2022 года
MOSCOW, Oct 17 (Reuters) - Russian wheat prices fell last week amid stagnant export demand, IKAR agriculture consultancy said in a note on Monday.
Russian prices for wheat with 12.5% protein content and for supply from Black Sea ports were at $323 per tonne free on board (FOB) at the end of last week, down $4 from a week earlier, IKAR said.
Russia kept grain exports steady at 910,000 tonnes last week, fellow consultancy Sovecon said, citing port data.
Farmers have already planted winter grains on 13.8 million hectares compared to 14.6 million hectares around the same date a year ago, Sovecon said.
It expects Russia's central regions to cut the winter grains area substantially this year due to recent heavy rains.
Other Russian data provided by Sovecon and IKAR:
Product: Price at the end Change from week of last week: earlier - Domestic 3rd class 12,925 rbls/t +300 rbls wheat, European part of Russia, excludes delivery (Sovecon) - Sunflower seeds 21,675 rbls/t -425 rbls (Sovecon) - Domestic sunflower 72,675 rbls/t -650 rbls oil (Sovecon) - Domestic soybeans 30,325 rbls/t -350 rbls (Sovecon) - Export sunflower $1,240/t unchanged oil (Sovecon) - Export sunflower $1,140/t +$10 oil (IKAR) - White sugar, $779.7/t -$91.7 Russia's south (IKAR)
Harvesting data provided by Sovecon as of October 13:
All grains: Wheat Barley Corn Sunseeds Crop, mln tonnes 146.1 103.7 24.2 3.9 5.6 Crop, as of same 112.3 76.5 18.5 5.9 10.4 date in 2021 Yield, 3.33 3.59 3.08 5.98 1.80 tonnes/hectare Yield, as of same 2.65 2.81 2.38 4.95 1.62 date in 2021 Harvested area, 43.9 28.9 7.9 0.7 3.1 mln hectares Harvested area, 42.4 27.2 7.8 1.2 6.4 as of same date in 2021
* Russia's agriculture ministry has yet to publish harvesting data in detail for the current season.
** The harvesting data is by bunker weight, i.e. before drying and cleaning of the crop.
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