IKAR in Mass Media

Prices for new season Russian wheat rise $16

02 июля 2012 года

MOSCOW, July 2 (Reuters) - Prices for new season Russian wheat rose $16 last week to about $276 per tonne for crop with 11.5 percent protein content and to $281 per tonne for 12.5 percent protein content in the country's main Black Sea port, a leading analyst said on Monday.

"Everyone saw that the harvest in the south of Russia is really at a low-level," Dmitry Rylko, head of the Institute for Agricultural Market Studies (IKAR), said in a note.

The combined crop from Russia, Ukraine and Kazakhstan is expected to fall to 78.9 million tonnes this year, down 22 percent from 2011, with the biggest impact on yields from winterkill and spring drought in Russia and Ukraine, a Reuters poll showed last week.

IKAR also said that Russia's grain export reached 27.8 million tonnes during marketing season from July 2011 to June 2012, of which wheat accounted for 21 million tonnes.

IKAR also cut its 2012 wheat crop forecast to 48.5 million tonnes from previously expected 50.5 million tonnes. Its grain crop forecast was cut to 86.5 million tonnes.

SovEcon agricultural analysts saw new season prices for fourth-grade wheat and for barley in Russia's North Caucasus at 7,000-7,500 roubles ($220-230) per tonne.

Wheat prices with 11.5 percent protein content in Russian deep-water ports were quoted at 8,100-8,300 roubles per tonne last week on a carriage-paid-to (CPT) basis, SovEcon said, adding that barley prices stood at 7,900-8,100 roubles per tonne.

Chicago wheat jumped to a 9-1/2-month high on Monday, tracking corn higher on prospects of higher volumes being channelled into animal rations, given the tight global supply of corn.

Meanwhile, temperatures will be higher than usual in Russia's main grain producing regions in July, the state forecaster said on Monday, putting pressure on the summer's crop.

The sunseeds price index fell to 14,650 roubles per tonne last week, down 250 roubles, SovEcon said. It pegged crude sunoil prices at 35,500 roubles per tonne, up 325 roubles, while export prices stood at $1,080-1,090 per tonnes free-on-board (FOB) at the Black Sea port of Novorossiisk.

Domestic white sugar fell to 25,600 roubles per tonne, down 200 roubles, or to $777 per tonne from $784, according to IKAR, but prices were expected to rise next week.

($1 = 32.4368 Russian roubles)

Source: Reuters | #grain | Comments: 0 Views: 58

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