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→ IKAR in Mass Media → #553 IKAR in Mass MediaRussian wheat export prices fall for first time since June08 октября 2012 года MOSCOW, Oct 8 (Reuters) - Russian wheat export prices, which have risen about 40 percent during the last four months, fell last week because of weak demand from large traders, SovEcon agricultural analysts said in a note on Monday. Russian wheat export prices have been rising due to worsening crop conditions and forecasts, forcing the country, one of the key world's wheat exporters, to lose its market share to other global suppliers, such as France. "Some of the large traders suspended buying," SovEcon agricultural analysts said in a note on Monday. The purchase price of wheat with 11.5 percent protein content in Russian deep-water ports fell to 11,000-11,200 roubles ($360) per tonne last week from 11,200-11,400 roubles per tonnes on a carriage-paid-to (CPT) basis, it added. Russian export prices are currently $15-20 per tonne higher than global prices, a large trader told Reuters. "This price is too high, that's why the main players left the market," he said on Monday. Benchmark November milling wheat settled down 0.5 euros or 0.19 percent at 258.50 euros ($340) a tonne in Paris on Monday by 1018 GMT. Hot and dry weather has burned Russia's cereal harvest, slashing harvest by a quarter to 70 million tonnes. Russia's 2012/13 exportable surplus forecast is o f ficially seen at 10-12 million tonnes, down from last year's 27 million tonnes. Since the start of the 2012/13 marketing year, which began on July 1, Russia has exported about 8.4 million tonnes of grains, including 6.7 million tonnes of wheat and 190,000 tonnes of maize (corn), Russia's Institute for Agricultural Market Studies (IKAR) said on Monday. Prices for maize were quoted at 8,500-8,600 roubles per tonne last week on a CPT basis, Sovecon said. IKAR saw the Black Sea corn index down at $275 per tonne. Russia's average domestic EXW (ex-silo) prices for third-grade and fourth-grade milling wheat were up 125 roubles at 9,750 roubles per tonne. During the previous week it added 875 roubles per tonne. Prices for fifth-grade milling wheat increased 200 roubles to 9,275 roubles per tonne last week, SovEcon said. Russian government is preparing to sell a part of its 5-million tonnes grain intervention stocks to stem rising domestic prices. The country is likely to sell up to 110,000 tonnes of grain per week from Oct. 23 till the end of the year, Deputy Prime Minister Arkady Dvorkovich said during a government meeting on Monday. For sunseeds, the price index for the new harvest fell by 690 roubles to 16,910 roubles per tonne, according to IKAR. SovEcon said prices were quoted at 18,450 roubles per tonne, down 175 roubles. The crude sunoil price index fell to 39,900 roubles per tonne, down 1,700 roubles, and in dollar terms to $1,280 per tonne, down $54, IKAR said. SovEcon pegged domestic prices at 41,425 roubles per tonne, down 250 r oubles, while export prices were seen at $1,110-1,130 per tonne on a free-on-board (FOB) basis, down from $1,180-1,200 per tonne. Soybean prices in Russia's South region fell 500 roubles to 18,000 roubles per tonne, IKAR said. It pegged white sugar prices in the south of Russia at 21,200 roubles per tonne, up 600 roubles. In dollar terms it rose to $681 per tonne, up $21. Source: Reuters | #grain | Comments: 0 Views: 47
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