IKAR in Mass Media

Russian wheat export prices flat last week, bad weather cuts shipments

21 ноября 2023 года

MOSCOW, Nov 20 (Reuters) - Export prices for Russian wheat remained flat last week amid reduced shipments in the face of difficult weather at ports, analysts said.

The price of 12.5% protein Russian wheat scheduled for free-on-board (FOB) delivery in late December was $230 per metric ton last week, unchanged from the previous week, the IKAR agriculture consultancy reported.

The Sovecon agriculture consultancy saw the price for the same class of wheat last week at $230-236 per ton FOB, the same as in the previous week.

"There's probably nowhere lower we can go. (Such price dynamics) reflects the fact that there is essentially no market again. We are very overstocked," said IKAR head Dmitry Rylko, noting the very difficult weather in the ports, which is likely to persist for the next two weeks.

Russia exported 0.81 million tons of grain last week, down from 0.89 million tons the week before, including 0.75 million tons of wheat, compared with 0.74 million tons the previous week, Sovecon wrote, citing port data.

It lowered its estimate of wheat exports in November by 0.1 million tons to 3.9 million tons, compared with 4.3 million tons a year ago and 3.5 million tons on average.

The wheat harvest as of Nov. 16 totalled 94.5 million tons versus 105.1 million tons а year earlier, from 29.0 million hectares planted versus the previous year's 29.3 million.

The average yield came in at 3.26 tons per hectare, against 3.59 tons per hectare a year before.

Sowing of winter grains was carried out on an area of 18.5 million hectares, up from 17.6 million hectares a year earlier, Sovecon wrote.

Other Russian data provided by Sovecon and IKAR:

Product:
Most recent data:
Change from week earlier

- Domestic 3rd class wheat, European part of Russia, excludes delivery (Sovecon)
12,500 rbls/t
+50 rbls/t

- Sunflower seeds (Sovecon)
23,575 rbls/t
+1,050 rbls/t

- Domestic sunflower oil (Sovecon)
72,675 rbls/t
-675 rbls/t

- Domestic soybeans (Sovecon)
34,700 rbls/t
-400 rbls/t

- Export sunflower oil (IKAR)
$820/t
+20 rbls/t

- White sugar, Russia's south (IKAR)
$640.81/t
+$9.9/t

Source: Reuters | #grain | Comments: 0 Views: 8

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