IKAR in Mass Media

Russian wheat export prices fall for a second week

10 марта 2025 года

MOSCOW, March 10 (Reuters) - Russian wheat export prices continued to decline for the second week in a row, but they have yet to regain competitiveness against European grains, analysts said.

The price for Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in early April dropped by $1 to $247 a metric ton, said Dmitry Rylko, head of consultancy IKAR.

The Sovecon consultancy placed prices for Russian wheat with the same protein content between $246 and $250 a ton FOB, down from between $248 and $252 the previous week, "tracking global declines and approaching Romanian/Bulgarian offers".

Weekly wheat exports were estimated last week at 0.31 million tons, up from 0.28 million tons the previous week, Sovecon said.

The first Sovecon estimate for March wheat exports stands at between 1.4 million and 1.8 million tons, down from 4.8 million tons a year earlier. This would be the lowest March total since the 1.2 million tons in 2020, the agency said.

"Negative margins and less competitive Russian wheat are slowing shipments," Sovecon said in a weekly note.

IKAR estimates wheat exports in March at between 1.1 million and 1.3 million tons.

Rail freight operator Rusagrotrans estimates wheat exports in March at 1.4 million to 1.6 million tons. If the current pace continues, it could reduce exports for the season to between 40 million and 41 million tons, and no more than 7 million tons, or 66% of the quota, could be exported between mid-February and June 2025.

Russia last week announced the start of the spring sowing campaign.

Agriculture Minister Oksana Lut said that 87% of winter crops are now in good or satisfactory shape, up from 82% in late January.

Russia's meteorological centre said that the country's winter crops had emerged in much better condition at the end of winter than at the start, but a lack of precipitation may yet have an impact.

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)
16,175 rbls/t
+75 rbls/t

- Sunflower seeds (Sovecon)
39,600 rbls/t
+350 rbls/t

- Domestic sunflower oil (Sovecon)
93,500 rbls/t
+1,575 rbls/t

- Domestic soybeans (Sovecon)
38,600 rbls/t
-600 rbls/t

- Export sunflower oil (IKAR)
$1,100/t
-$10

- White sugar, Russia's south (IKAR)
$658.70/t
-$14.05/t

Source: Reuters | #grain | Comments: 0 Views: 1

There are no comments yet. Be the first!

Only authorized users can comment.