IKAR in Mass Media

Russian wheat export prices stop long decline, following global benchmarks

20 июня 2023 года

MOSCOW, June 19 (Reuters) - Russian wheat export prices have stopped their decline of recent weeks, following the direction of overseas benchmarks, analysts said.

The price of Russia's new wheat crop with 12.5% protein content, delivered free on board (FOB) from the Black Sea in July, was assessed at $228 a tonne compared to $223 a tonne the previous week by the IKAR agriculture consultancy.

"There are many 'black swans' here: first of all, the forecast reduction for Europe, the drought in the U.S. corn belt, possible problems in Argentina and Australia and sub-optimal conditions in Ukraine," said IKAR head Dmitry Rylko.

The Russia-focused agricultural consultancy Sovecon estimated total Russian wheat exports in June at 3.0 million tonnes, compared to 1.0 million tonnes in June 2022 and 1.4 million tonnes on average.

Russia exported 680,000 tonnes of grain last week compared to 800,000 tonnes a week earlier, including 560,000 tonnes of wheat compared to 770,000 tonnes a week earlier, Sovecon wrote in its weekly note, citing port data.

As of June 14, farmers sowed 30.2 million hectares of grains compared to 28.8 million hectares in 2022, including 13.7 million hectares of wheat.

"Temperatures are expected to be around normal or colder in all regions," - Sovecon said, adding that the precipitation situation in the Urals and Siberia was becoming more favourable.

"Abnormally wet weather in the south is very untimely. The gluten and protein content could suffer, there is a growing number of reports of fusarium contamination, particularly in Krasnodar."

Other Russian data provided by Sovecon and IKAR:

 Product:              Most recent data:    Change from week
                                                     earlier
 - Domestic 3rd class      11,225 rbls/t          +25 rbls/t
 wheat, European part                     
 of Russia, excludes                      
 delivery (Sovecon)                       
 - Sunflower seeds         20,600 rbls/t         -275 rbls/t
 (Sovecon)                                
 - Domestic sunflower      63,675 rbls/t         -650 rbls/t
 oil (Sovecon)                            
 - Domestic soybeans       29,625 rbls/t            0 rbls/t
 (Sovecon)                                
 - Export sunflower              $7360/t              +$25/t
 oil (IKAR)                               
 - White sugar,                $728.92/t             -$11.73
 Russia's south                           
 (IKAR)

https://reuters.com/

Source: Reuters | #grain | Comments: 0 Views: 11

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