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Where the margin is 2023

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

 

Russian wheat prices rebound after falling on extension of Black Sea export deal

29 ноября 2022 года

MOSCOW, Nov 28 (Reuters) - Russian wheat prices rebounded slightly last week from a week earlier, when they fell on the extension of the Black Sea grain supply deal, analysts said on Monday.

Prices for Russian wheat with 12.5% protein content and for supply from Black Sea ports in December were at $317 a tonne free on board (FOB) on Friday evening, up $3 from a week earlier, the IKAR agriculture consultancy said in a note.

Russia's grain exports fell to 780,000 tonnes last week from 1.0 million tonnes the previous week, another consultancy Sovecon said, citing port data. Wheat prices for immediate delivery were stable at $315-319 per tonne, it added.

Russia's agriculture ministry has already bought 1.94 million tonnes of grain from the domestic market for the state stockpile in the current July-June season, Sovecon added. The ministry plans to buy up to 3 million tonnes this season.

Farmers have planted winter grains on 17.7 million hectares, compared with 18.4 million hectares around the same date a year earlier, the consultancy said.

Weather conditions remain friendly for winter wheat in the Volga and central regions of Russia, Sovecon said, adding that Russia's southern regions of Krasnodar and Stavropol are a bit dry.

Other Russian data provided by Sovecon and IKAR:

Product:
Price at the end of last week:
Change from week earlier

- Domestic 3rd class wheat, European part of Russia, excludes delivery (Sovecon)
12,650 rbls/t
-50 rbls

- Sunflower seeds (Sovecon)
22,575 rbls/t
+1,025 rbls

- Domestic sunflower oil (Sovecon)
73,925 rbls/t
+175 rbls

- Domestic soybeans (Sovecon)
30,900 rbls/t
+525 rbls

- Export sunflower oil (Sovecon)
$1,240/t
-$20

- Export sunflower oil (IKAR)
$1,190/t
-$10

- White sugar, Russia's south (IKAR)
$745.2/t
-$13.2

Harvesting data provided by Sovecon as of Nov. 24:

All grains:
Wheat
Barley
Corn
Sunseeds
Crop, mln tonnes

155.0
105.2
24.5
10.3
13.3
Crop, as of same date in 2021

125.6
78.6
18.9
15.2
15.4
Yield, tonnes/hectare

3.38
3.60
3.09
5.93
1.81
Yield, as of same date in 2021

2.77
2.82
2.40
5.52
1.61
Harvested area, mln hectares

45.8
29.2
7.9
1.7
7.4
Harvested area, as of same date in 2021

45.3
27.8
7.9
2.8
9.6

* 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.

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


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