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IKAR in Mass Media

Russian grain prices fall, Egypt tender weighs

29 сентября 2011 года

Sept 26 (Reuters) - Russian grain prices, both export and domestic, fell last week following international trends, in the European part of Russia, but they rose in Siberia, analysts said on Monday.

European milling wheat futures fell to a new six-week low on Friday as a G20 pledge to preserve financial stability failed to reassure investors about the risk of an economic recession that could dent demand for commodities.

In Russia, FOB Black Sea price of wheat with 11.5 protein content declined to $255 per tonne from $270, the Institute for Agricultural Market Studies (IKAR) said in a weekly note.

"The results of the latest Egyptian tender had a negative effect on Russian prices," SovEcon agricultural market analysts said in a separate note.

Egypt, the world's largest wheat importer, bought last week 240,000 tonnes of Russian wheat for Dec. 11-20 shipment.

The prices were $261-$263 per tonne FOB, down from $278-$279 a week before, SovEcon noted.

"Russia faces acute competition with French wheat, the minimum price of which was $269.5 per tonne," it said, adding that a new competitor, Australia, appeared at the tender, although with a higher price of $272 and a higher freight rate.

"The decline was partially compensated by the rouble devaluation," SovEcon said. Falling oil prices and risk aversion pulled the Russian rouble to its weakest level since mid-August 2009.

DOMESTIC WHEAT PRICES DOWN IN EUROPE, UP IN SIBERIA

Average EXW offer prices for benchmark third-grade milling wheat fell by some 75 roubles ($2.34) per tonne to 6,200 roubles, in European Russia, for fourth-grade wheat by 100 roubles to 6,100 roubles, for feed wheat by 25 roubles to 5,200, SovEcon said.

In southern Russia third- and fourth-grade wheat lost $14 per tonne to $200 and $192 respectively, while feed wheat lost $16 to $177, IKAR said.

In western Siberia EXW prices for third-grade wheat rose by an average of 100 roubles per tonne to 4,700-5,000 roubles on expectations of a lower railway tariff, SovEcon said.

Last week a senior agriculture ministry official said that the government may halve the tariff for Siberian grain to facilitate its exports.

SovEcon said that average maize price in European Russia rose by 300 roubles per tonne to 6,600 roubles per tonne on demand from exporters, who offer to buy it at 6,700-7,000 roubles per tonne (including delivery -- CPT) at shallow water ports.

IKAR said that new harvest maize price slightly declined in dollar terms by $2 per tonne to $197.

Russian crude sunoil price fell to $1,090 per tonne from $1151, sunseed to $353 per tonne from $381, on weaker rouble and pressure of the new record crop, IKAR said.

In rouble terms, sunseed prices were rather stable at 11,000-12,000 per tonne, while some crushers raised bid prices to around 12,500 (CPT), SovEcon said.

Under the pressure of new abundant sugar beet harvest, white sugar prices fell to 21,200 roubles, or $664 per tonne from 22,000 roubles or $721.

Source: Reuters  |  #grain   |  Comments: 0   Views: 74

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