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Where the margin is 2023

Where the margin is 2023
February 9-10, 2023, Moscow


Russian wheat rises on stronger rouble, talks to prolong Black Sea export deal

14 ноября 2022 года

MOSCOW, Nov 14 (Reuters) - Russian wheat prices rose last week as the rouble strengthened and as talks about extending the Black Sea deal allowing Ukrainian shipments continued, the IKAR agriculture consultancy said on Monday.

Prices for Russian wheat with 12.5% protein content and for supply from Black Sea ports in December were at $317.5 a tonne free on board (FOB) on Friday evening, up $5.5 from a week earlier, IKAR said in a note.

Russia's grain exports at 1.0 million tonnes last week were unchanged from the previous week, another consultancy, Sovecon said, citing port data.

"There are a lot of complaints both from exporters and domestic consumers about the lack of railcars," it said.

Farmers have already planted winter grains on 17.5 million hectares, compared with 18.2 million hectares around the same date a year ago, the consultancy said.

Overall weather conditions remain fine for development of the winter crops, Sovecon said, adding that rains in the southern regions would improve crop conditions in this key winter wheat-producing region.

The harvesting of the current sunflower seeds crop lags badly, Sovecon said. Only 64% of the area has been harvested by now, while typically it is above 90% at this time of the year, 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       12,825 rbls/t             +50 rbls
 wheat, European part            ($212.9)  
 of Russia, excludes                       
 delivery (Sovecon)                        
 - Sunflower seeds          21,050 rbls/t             +75 rbls
 - Domestic sunflower       73,750 rbls/t            -425 rbls
 oil (Sovecon)                             
 - Domestic soybeans        30,300 rbls/t            +150 rbls
 - Export sunflower              $1,300/t                 -$50
 oil (Sovecon)                             
 - Export sunflower              $1,250/t                 +$20
 oil (IKAR)                                
 - White sugar,                  $767.5/t                +$4.7
 Russia's south                            

Harvesting data provided by Sovecon as of Nov. 10:

                    All grains:   Wheat  Barley  Corn  Sunseeds
 Crop, mln tonnes         152.4   105.0    24.4   7.8      11.6
 Crop, as of same         122.5    78.1    18.8  13.0      15.1
 date in 2021                                          
 Yield,                    3.36    3.59    3.09  5.80      1.82
 Yield, as of same         2.74    2.81    2.39  5.39      1.59
 date in 2021                                          
 Harvested area,           45.3    29.2     7.9   1.4       6.4
 mln hectares                                          
 Harvested area,           44.8    27.8     7.9   2.4       9.5
 as of same date                                       
 in 2021                                               

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

** The harvesting data is by bunker weight, i.e. before drying and cleaning of the crop.

($1 = 60.2500 roubles)

Source: Reuters  |  #grain   |  Comments: 0   Views: 1

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