IKAR in Mass Media

Russian wheat export prices edge down in latest week

04 августа 2025 года

MOSCOW, Aug 4 (Reuters) - Russian wheat export prices fell last week, tracking a decline in global prices on expectations that markets will be well supplied this year as harvesting in major producing countries advance.

The price for new crop Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in the second half of August was $236 per metric ton at the end of last week, down $3 from the previous week, said Dmitry Rylko, head of IKAR consultancy.

Rylko said that overall the prices remain stable. Sovecon consultancy estimated offers at $237-$240 per ton, compared with $239-$242 in the previous week.

"Export demand remains strong. Supply in the South is limited, and traders report low test weights in the new wheat crop offers," analysts at Sovecon said.

Drought has hit major Russian grain regions this year, with the grain crop in Rostov, the top grain and wheat-producing region in 2024, expected to be 8 million tons, down 30% on last year.

"Farmers were focused on harvesting and delayed sales in expectation of higher prices," Sovecon added.

While drought hit some regions of Russia, that was offset by better crops in some other regions, prompting the government to maintain its grain crop forecast.

Agriculture Minister Oksana Lut said last week that the harvesting campaign is behind schedule after a late start but the official forecast of 130 million tons of grain and 90 million tons of wheat for this year remains unchanged.

Lut said farmers have already harvested about 50 million tons of grain.

Private consultancy Sovecon estimated that Russia harvested 30 million tons of wheat.

Sovecon trimmed its wheat export estimate for July to 2.0 million tons from 2.1 million tons last week, compared with 3.6 million tons in July 2024, but trimmed its forecast for Russia's wheat crop in 2025 only slightly to 83.3 million metric tons from the previous estimate of 83.6 million tons, due to weaker-than-expected yields in key southern regions.

IKAR still retains its wheat export estimate for July at about 2 million tons.

The export duty on wheat in Russia, which stayed at a zero level from July 9, will rise to 19.4 roubles ($0.2434) per ton from August 6.

Other Russian data provided by Sovecon:

Product:
Most recent data:
Change from a week earlier

- Domestic 3rd class wheat, European part of Russia, excludes delivery (Sovecon)
14,625 rbls/t
+225 rbls/t

- Sunflower seeds (Sovecon)
34,250 rbls/t
0 rbls/t

- Domestic sunflower oil (Sovecon)
87,000 rbls/t
+1000 rbls/t

- Domestic soybeans (Sovecon)
33,700 rbls/t
0 rbls/t

($1 = 79.7000 roubles)

Source: Reuters | #grain | Comments: 0 Views: 3

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