• IKAR in Mass Media

Where the margin is 2025
July 17-18, Moscow

 

 → IKAR in Mass Media → #3796

IKAR in Mass Media

Russian wheat export prices were largely unchanged last week

24 декабря 2024 года

MOSCOW, Dec 23 (Reuters) - Russian wheat export prices were largely unchanged last week amid declining activity, with poor weather at ports also affecting weekly export volumes, which fell to a year-low, analysts said on Monday.

Dmitry Rylko, head of the IKAR consultancy, said the price of Russian wheat with 12.5% protein for free-on-board (FOB) delivery in the second part of January remained unchanged from last week at $234 per metric ton.

The Sovecon consultancy saw prices for Russian wheat with the same protein content and delivery terms at $232 to $238 per ton, compared with $227 to $232 the previous week.

Russia's flagship grain rail carrier Rusagrotrans said export bid and offer prices for Russian wheat with 12.5% protein for delivery in January also remained unchanged at $235 and $240 per ton, respectively.

Export activity slowed significantly due to stormy weather in the Black Sea, Sovecon wrote in a weekly note.

Weekly grain exports were estimated at 0.42 million metric tons, including 0.40 million tons of wheat, down from 1.04 million tons of grain and 0.94 million tons of wheat the previous week.

This marks the lowest weekly volume since November 2023, according to Sovecon.

Sovecon has downgraded its estimates of December wheat exports by 0.2 million tons to 3.3 million tons, compared to 3.6 million tons a year ago.

IKAR estimates December wheat exports at 3.6 million tons, down from 4.4 million tons in November. Rusagrotrans, said wheat exports in December are estimated at 3.7 to 3.8 million tons.

Wheat exports in the first half of the 2024/25 season will therefore reach a record 29.4 million tons, surpassing last season's record of 27.7 million tons.

Russia said on Friday its wheat and meslin export quota in the second half of the exporting season will be 10.6 million metric tons.

Winter grains were sown over 17.6 million hectares, compared to 18.6 million hectares in 2023.

Snow cover has formed across all winter wheat regions, Sovecon noted.

The Russian state weather forecasting agency has warned that much warmer than usual weather in the European part of Russia during the third decade of December will worsen conditions for the overwintering of grain crops.

Other Russian data provided by Sovecon and IKAR:

Product:
Most recent data:
Change from a week earlier

- Domestic 3rd class 15,625 rbls/t 0 rbls/t wheat, European part of Russia, excludes delivery (Sovecon)

- Sunflower seeds 39,450 rbls/t -275 rbls/t (Sovecon)

- Domestic sunflower 104,175 rbls/t -175 rbls/t oil (Sovecon)

- Domestic soybeans 39,350 rbls/t -700 rbls/t (Sovecon)

- Export sunflower $1,050/t -$50 oil (IKAR)

- White sugar, $570.60/t +$3.29/t Russia's south (IKAR)

Source: Reuters  |  #grain   |  Comments: 0   Views: 27

There are no comments yet. Be the first!

Only authorized users can comment.