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→ IKAR in Mass Media → #376 IKAR in Mass MediaRussian grain prices up, less bread wheat expected31 августа 2011 года MOSCOW, Aug 22 (Reuters) - Russian grain prices kept rising last week, with milling wheat in the lead as its supply is currently estimated lower than initially expected, analysts said on Monday. The offer price of third-grade milling wheat EXW rose 325 roubles ($11.46) to 5,540 roubles per tonne in the European part of Russia, while fourth-grade milling wheat rose by 225 roubles to 5,350 roubles per tonne, SovEcon agricultural analysts said. "Feed wheat rose by a modest 50 roubles to 4,575 roubles per tonne," SovEcon said in a note. "The supply of feed wheat is at a high level, while that of milling wheat is limited. Market players in many producing regions report lower quality of this season's wheat crop than earlier expected." Barley EXW price rose 125 roubles to 5,625 roubles per tonne. PRICES UP AT PORTS "Exporters increased bid prices at ports," SovEcon said. "Market players report that some exporters hurry to implement "burning" contracts while problems with cargo transportation remain," SovEcon said. Following the results of most recent tenders, the FOB Black Sea price of Russian ordinary milling wheat with 11.5 percent protein content (fourth-grade) rose to $267-$268 per tonne from $255-$257, the Institute for Agricultural Market Studies (IKAR) said. "Russia remains the cheapest supplier of ordinary milling wheat... with about $20 advantage on the key competitors," IKAR said in a weekly note Domestic CPT price for fourth-grade wheat also strengthened in Novorossiisk to 6,800 roubles per tonne from 6,600 roubles, it said. In Novorossiisk, buyers offered 6,700-6,800 roubles per tonne for fourth grade wheat compared to 6,400-6,500 roubles a week before, while at shallow water ports prices rose by 200-400 roubles to 6,000-6,200 roubles per tonne, SovEcon said. FOB price for higher quality wheat with 12.5 percent protein rose to $275 per tonne from $265 in Novorossiisk, IKAR said. It said, shallow water FOB price for 11.5 protein wheat increased to $217-$220 per tonne from around $210. Feed barley price at deep sea ports remained unchanged at $280 per tonne, while at shallow ports it declined slightly to $237-$239 from $240, IKAR said. "We expect the upward trend on the wheat market to remain in the short term," SovEcon said. "Barley is likely to follow the same trend, as traders in the Black Soil region say that malting barley crop may be lower than expected, which may force breweries to buy feed barley for malting purposes, pushing prices up." SUNOIL, SUGAR DECLINE ON NEW BIG CROP Crude sunoil prices declined to $1,300 per tonne from $1,350 as both producers and processors expect a new abundant harvest, IKAR said. Spring rapeseed purchase prices were set at about 12,000 roubles or $410 per tonne. New harvest rapeseed oil in southern Russia is traded at about 1,200 per tonne, it said. Under the pressure of the new bumper sugar beet crop white sugar prices declined to $802 or 23,200 roubles per tonne from $822 or 24,500 roubles, IKAR said. Source: Reuters | #grain | Comments: 0 Views: 43
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