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IKAR in Mass Media
Russian wheat prices fall on weaker rouble
27 декабря 2022 года
MOSCOW, Dec 26 (Reuters) - Russian wheat prices fell last week following a weaker rouble currency RU/RUB and high domestic supply amid a record crop, analysts said on Monday, adding that the pace of sea shipping had picked up after storms.
Prices for Russian wheat with 12.5% protein content and for supply from Black Sea ports in January were at $307 a tonne free on board (FOB) on Friday evening, down $5 from a week earlier, the IKAR agriculture consultancy said in a note.
Russian grain exports rose to 1.1 million tonnes last week from 840,000 tonnes in previous week as the weather in the Black Sea improved after storms, another consultancy Sovecon said, citing port data.
Wheat prices for immediate delivery fell by $1 to $307-311 per tonne, it added.
Russia's agriculture ministry has already bought 3.0 million tonnes of grain from the domestic market for the state stockpile in the current July-June season, Sovecon added.
Rains arrived to part of Russia's southern region, a major winter grain producer, last week and more precipitation is expected this week, Sovecon said, signalling improving conditions for the sowings after dry weather.
Other Russian data provided by Sovecon and IKAR:
- Domestic 3rd class wheat, European part of Russia, excludes delivery (Sovecon)
- Sunflower seeds (Sovecon)
- Domestic sunflower oil (Sovecon)
- Domestic soybeans (Sovecon)
- Export sunflower oil (Sovecon)
- Export sunflower oil (IKAR)
- White sugar, Russia's south (IKAR)
Harvesting data provided by Sovecon as of Dec. 22:
Crop, mln tonnes
Crop, as of same date in 2021
Yield, as of same date in 2021
Harvested area, mln hectares
Harvested area, 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.
Source: Reuters | #grain | Comments: 0 Views: 14
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