Main page   About us  |  Our news  |   Our services  |  Contacts
Main page guide Feedback RSS       In Russian



   IKAR in Mass Media
   Market prices
   Graphically speaking
   Market studies



   About us
   Our news
   Our services

IKAR in Mass and Industry Media

Russian wheat export prices hold steady on black sea crop concerns

Reuters, 15.06.20

MOSCOW, June 15 (Reuters) - Russian wheat export prices held steady at the end of last week while global benchmarks fell, supported by concerns over the size of the Black Sea region's new wheat crop, analysts said on Monday.

Russian wheat with 12.5% protein loaded from Black Sea ports was at $205 a tonne free on board (FOB) at the end of last week, up just $0.5 a tonne on the previous week, the SovEcon consultancy said in a note.

Another consultancy IKAR pegged new crop wheat at $206 a tonne, flat on the previous week. Global prices were under pressure following a U.S. Department of Agriculture report that raised world wheat production forecasts by 4.9 million tonnes, as well as increasing its forecast for global stocks.

"World prices were under pressure after (the) bearish... report, while the Black Sea values are still supported by concerns about the size of the new crop," SovEcon said.

Though the U.S. report mentioned improved crop conditions in Russia, however, it left its forecast for the Russian crop unchanged.

Russian analysts last week raised domestic crop forecasts on the back of more favourable weather conditions.

Russia's planting campaign is almost over, SovEcon said, adding that spring wheat had been planted on 12.4 million hectares compared to 11.9 million hectares in 2019.

Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), bought 120,000 tonnes of Russian wheat in an international purchase tender last week.

"Payment terms were different – in the last tender a seller would receive a payment in 180 days; in the previous one – straight after delivery. Taking into account cost of financing the price for Russian wheat remained mostly unchanged," SovEcon said.

Russia exported 35.6 million tonnes of grain between July 1 last year and June 11, down 14% from the year-earlier period, SovEcon said. Of this, wheat exports accounted for 30.4 million tonnes. June exports of grain were at 0.8 million tonnes, SovEcon said, including 0.5 million tonnes of wheat.

The state stockpile was further reduced last week after 12,000 tonnes of wheat were sold and it now stands at 0.4 million tonnes, a number which includes volumes that have been sold but not yet delivered.

Other Russian data provided by SovEcon and IKAR:

Product: Price at the end Change from week of last week: earlier
- Domestic 3rd 13,800 rbls/t -175 rbls class wheat, ($196.72) European part of Russia, excludes delivery (SovEcon)
- Sunflower seeds 26,325 rbls/t +675 rbls (SovEcon)
- Domestic 52,750 rbls/t unchanged sunflower oil (SovEcon)
- export sunflower $760/t +$10 oil (SovEcon)
- white sugar, $386.2/t +$6.6 Russia's south (IKAR)

($1 = 70.1500 roubles)

All viewing: 184

Where The Margin Is
Annual Conference Agribusiness
media feedback

IKAR is a member of International research project Agri Benchmark from May 2010

Agri Benchmark

Putin Is Growing Organic Power One T-34 Tank-Tomato at a Time

Grain | Cereals | Sugar | Oilseeds | Feedstuffs & Ingredients | Meat | Dairy

IKAR. Institute for Agricultural Market Studies.

© 2002-2021  
IKAR. Institute for Agricultural Market Studies
24, Ryazansky str., off. 604, Moscow, Russia
Tel/Fax: +7 (495) 232-9007 | |  Feedback

Rambler's Top100 Рейтинг
Google translate: Google translate: Russian Google translate: German Google translate: French Google translate: Italian Google translate: Portuguese Google translate: Spanish Google translate: Turkish Google translate: Lithuanian Google translate: Chinese Google translate: Korea