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IKAR in Mass Media

Russia's new crop wheat prices steady on mixed weather factors

27 мая 2013 года

MOSCOW, May 27 (Reuters) - Russia's wheat export prices for the new crop remained flat last week as mixed weather factors sustained concerns over this year's harvest prospects, SovEcon consultancy said in a note on Monday.

Late spring accompanied by dry weather in some regions in May has put Russia's plans to return as the world's No.3 wheat exporter after last year's drought at risk, but there has not yet been any forecast downgrades.

"Condition of winter grains improved slightly in European Russia due to rains at the end of last week and in early of this week," SovEcon said.

"But taking into account actual damage and the low level of moisture content in soil in many regions, we are still cautious on winter grain crop prospects," it said.

Cool weather delaying Russia's spring grain sowing campaign also adds uncertainty, it said. Southern Federal District, the country's main wheat export region, usually starts the harvesting campaign in late June.

SovEcon narrowed its 2013 grain crop forecast to 84-89 million tonnes from a previously expected 83-89 million tonnes.

Prices for new crop milling wheat were flat at $265-270 per tonne on a free-on-board (FOB) basis in deep-water ports last week, SovEcon said. Prices for new crop barley were quoted at $255-260 per tonne on the same basis.

According to the Institute for Agricultural Market Studies (IKAR), prices for new crop wheat with 12.5-percent protein content were quoted at $270 per tonne on a FOB basis in the Black Sea and at $240 per tonne for same basis in the Azov Sea.

Paris benchmark November milling wheat closed at 204.75 euros ($260) on May 24.

For the old crop, prices for third-class milling wheat decreased by 100 roubles to 9,500 roubles ($300) per tonne in deep-water ports last week, SovEcon added. Purchasing maize (corn) prices were flat at 8,200-8,400 roubles per tonne on a carriage paid-to (CPT) basis.

In European Russia, the average domestic EXW (ex-silo) price for third-class and fourth-class milling wheat declined by 100 roubles and 50 roubles, respectively, to 9,000 roubles per tonne last week, SovEcon added. Feed wheat lost 100 roubles and was seen at 8,675 roubles per tonne.

Feed barley prices fell by 75 roubles to 8,000 roubles per tonne, while maize prices were down 50 roubles at 8,250 roubles per tonne, according to SovEcon. Milling rye was quoted flat at 6,850 roubles per tonne.

As for oilseeds, the domestic prices for sunflower seeds were flat at 15,550 roubles per tonne, SovEcon said. IKAR pegged its sunseed price index 16,510 roubles per tonne, up 315 roubles.

Export prices for crude sunflower oil were up $10 at $1,120-1,125 a tonne on a free-on-board basis, SovEcon added, while IKAR quoted crude sunoil price index at $1,172 per tonne, up $36.

Russia's domestic white sugar prices were down 500 roubles at 24,100 roubles per tonne, according to IKAR.

Source: Reuters  |  #grain   |  Comments: 0   Views: 48

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