IKAR in Mass Media

Russian wheat export prices little changed as shipments stay high

16 сентября 2024 года

MOSCOW, Sept 16 (Reuters) - Russian wheat export prices were little changed last week, although export volumes are expected to still be strong in September after record highs for the month in August.

The price of 12.5% protein Russian new crop wheat scheduled free-on-board (FOB) with delivery in October was $216 per metric ton at the end of last week, up $1, IKAR consultancy said.

The Sovecon consultancy reported that prices for Russian wheat with the same protein content were at $217-$220 per ton.

Egypt's GASC bought 430,000 of Russian wheat in a private deal, sources told Reuters. The purchase was confirmed by GASC.

Sovecon estimated Russia's September wheat exports at 4.7-5.0 million tons, compared to 4.9 million tons a year ago.

Weekly grain exports are estimated at 0.99 million tons, down from 1.06 million a week ago, including 0.98 million tons of wheat, down from 1,03 million tons.

Dry weather persists in parts of the southern regions of the country, and landscape fires have started in Rostov, one of the key grain-growing regions.

However, the drier weather in Siberia, where three regions have already declared a state of emergency due to soil overwatering, should facilitate more active harvesting of grain crops.

Russia's Agriculture Ministry said last week it has maintained its 2024 grain forecast of 132 million tons and exports of around 60 million tons.

As of Sept. 9, Russian farmers had harvested 92.0 million tons of grain. The wheat harvest totalled 68.6 million tons from 20.4 million hectares, down from 80.0 million tons from 21.4 million hectares last year, with an average yield of 3.36 tons per hectare compared to 3.73 tons, Sovecon said.

Winter grains were sown across 4.3 million hectares, compared to 5.4 million hectares in 2023.

Other Russian data provided by Sovecon and IKAR:

Product:
Most recent data:
Change from a week earlier

- Domestic 3rd class wheat, European part of Russia, excludes delivery (Sovecon)
14,725 rbls/t
+150 rbls/t

- Sunflower seeds (Sovecon)
33,375 rbls/t
+2,050 rbls/t

- Domestic sunflower oil (Sovecon)
81,675 rbls/t
+2,175 rbls/t

- Domestic soybeans (Sovecon)
36,400 rbls/t
+1.300 rbls/t

- Export sunflower oil (IKAR)
$900/t
-$15

- White sugar, Russia's south (IKAR)
$588.30/t
+$8.59/t

Source: Reuters | #grain | Comments: 0 Views: 7

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