• IKAR in Mass Media

Where the margin is 2025
July 17-18, Moscow

 

 → IKAR in Mass Media → #389

IKAR in Mass Media

Russia wheat prices rise, barley slips - analysts

27 сентября 2011 года

MOSCOW, Sept 5 (Reuters) - Russian wheat prices kept rising in the European part of Russia as exporters' demand got closer to those of competitors, while barley prices weakened slightly on lower demand and high supply, analysts said on Monday.

Third- and fourth-grade milling wheat added 325 roubles ($11.16)to 6,150 roubles and 6,100 roubles per tonne EXW, while feed wheat rose by 450 roubles to 5,200 roubles per tonne, SovEcon agricultural analysts said in a weekly note.

Exporters' demand also pushed rye prices up by 400 roubles to 4,150 roubles per tonne, it said.

The only cereal which declined, although by just 25 roubles per tonne to 5,650 roubles, was barley due to lower demand from exporters and rising new crop barley supply.

EXW prices were stable in the Urals and Siberia as the grain harvesting campaign was gaining momentum in those parts of Russia.

SovEcon said prices of grain from the Urals and Siberia, praised for its quality and absence of pests, may still rise especially if plans by the government to lower railway fees to export ports materialise.

CPT (Carriage Paid To) prices at ports rose last week, SovEcon said. Traders bid for fourth-grade wheat at 7,300-7,500 roubles per tonne, up from 7,000 roubles a week before. Bids for the cereal at shallow water ports are at 6,300-6,400 roubles per tonne.

Traders say, exports began via Baltic sea ports, SovEcon said.

The FOB Black Sea price for ordinary milling wheat with 11.5 percent protein content rose to $295 per tonne from $290, the Institute for Agricultural Market Studies (IKAR) said in a separate note.

"Russia remains the cheapest supplier of ordinary milling wheat to the regional market, although last week the spread with the European wheat minimized," it said.

Under preliminary estimates, August grain exports amounted to 3.2 million tonnes, which together with 2.5 million tonnes of July exports total 5.7 million tonnes, which is close to the record high two-months exports in 2009/10 of 5.8 million, IKAR said.

Starting new harvest sunseed prices are estimated at 12,000 per tonne in southern Russia and the Central Black Soil, and at 11,000 roubles in the Volga region, which corresponds to the sunoil export prices, IKAR said.

Sunoil price declined to 37,500 roubles per tonne from 37,800 as new harvest sunoil appeared on the market.

Under the pressure of new abundant sugar beet crop, white sugar prices fell to $758 per tonne from $779, or to 21,900 roubles from 22,500, IKAR said, adding that the decline has slowed down due to shortage of railway wagons.

Source: Reuters  |  #grain   |  Comments: 0   Views: 41

There are no comments yet. Be the first!

Only authorized users can comment.