IKAR in Mass Media

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.

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

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