IKAR in Mass Media

Russian wheat export prices hit by competitive global market

20 января 2025 года

MOSCOW, Jan 20 (Reuters) - Russian wheat export prices declined last week in the face of competitive offers from other global exporters.

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 first part of February was $234 a metric ton, down $3 from the previous week.

The price of Russian wheat was affected by the entry of more price-competitive wheat from Argentina and Australia, he said.

The Sovecon consultancy put prices for Russian wheat with the same protein content and delivery terms at between $237 and $240 a ton, compared with $235 to $240 the previous week.

"Russian FOB prices are expected to remain mostly unchanged. Current levels seem relatively high to attract new demand," Sovecon said.

"Trading activity is recovering slowly. There was a temporary spike in prices in the first half of the week when several traders needed to secure additional grain urgently."

From Feb. 15, a very low export quota of 10.6 million tons of wheat for the second half of the season to June 30 will be applied on the Russian market.

Weekly grain exports were estimated last week at 0.41 million tons, including 0.39 million tons of wheat. That was down from the previous week's 0.52 million tons of grain, including 0.43 million tons of wheat, Sovecon said.

The agency estimates January wheat exports to be 2.0 million tons against 3.6 million tons a year earlier. IKAR estimates January wheat exports at 2.2 million to 2.5 million tons, down from 3.8 million tons in December.

The weather in the main Russian grain regions remains abnormally warm. According to the Russian state weather forecasting agency, winter crops are performing normally despite the absence of snow cover. However, sharp frosts, with temperatures dropping to minus 20 degrees Celsius, could pose a threat.

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)
15,525 rbls/t
+175 rbls/t

- Sunflower seeds (Sovecon)
38,275 rbls/t
-825 rbls/t

- Domestic sunflower oil (Sovecon)
100,175 rbls/t
-2,650 rbls/t

- Domestic soybeans (Sovecon)
39,700 rbls/t
+1,250 rbls/t

- Export sunflower oil (IKAR)
$1,055/t
-$25

- White sugar, Russia's south (IKAR)
$590.82/t
+$14.08/t

Source: Reuters | #grain | Comments: 0 Views: 10

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