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Milling rye leads rising grain market - analysts

Reuters, 16.12.10


MOSCOW, Dec 13 (Reuters) - Russian grain prices continue to rise, led by a rally in milling rye, which rose 550 roubles last week ($17.76) to 6,750 roubles per tonne (EXW European Russia), analysts said on Monday.

Feed barley rose by 250 roubles compared with the previous week to 8,225 roubles per tonne, while all grades of wheat added 125 roubles on average, SovEcon agricultural analysts said in a weekly note.

Prices rose in European Russia and in Western Siberia, the Institute of Agricultural Market Studies (IKAR) said in its note.

In southern Russia, third-grade wheat rose to $215 per tonne from $210, fourth-grade to $204 per tonne from $197, feed wheat to $199 from $191, feed barley to $246 from $235, with almost no trade, and maize to $265 from $260, it said.

In Western Siberia, third-grade wheat rose to $264 from $241.

Current flour prices in the same region, one of Russia's milling centres, are too high to compete in European Russia and on the main markets abroad. That is why some price cooling may occur in the near future, IKAR said.

In rouble terms, maize declined slightly by 25 roubles per tonne to 8,225 roubles per tonne (EXW North Caucasus), as imports from Ukraine are expected to start as soon as the licence to ship is approved, SovEcon said.

"We believe that the next cereal to underperform the market is barley," Sovecon said.

SUNSEEDS RANGEBOUND, SUNOIL STABLE

Dollar-denominated sunseed prices rose to $709 per tonne from $702, but went down in rouble terms under pressure from crude sunoil prices on global markets and imports from Ukraine. Crude sunoil in Russia was stable at $1,540 per tonne, IKAR said.

In rouble terms, sunseed prices declined slightly in some parts of North Caucasus, while crushers continued to raise prices in the Central Black Soil region, SovEcon said. Sunoil was stable at 49,425 roubles per tonne.

Sovecon said a major processor in the region bought a shipment of sunseeds at 23,500 roubles per tonne. In European Russia, average prices declined by 175 roubles to 21,825 roubles per tonne, it said.

Sunoil producers do not expect a rise as supply of Ukrainian oil at around $1,400 per tonne (DAF Russia) is increasing and they feel difficulties in selling their product at high price, SovEcon said.

White sugar prices were stable at 32,000 roubles per tonne, while dollar denominated prices increased to $1,033 per tonne from $1,024, IKAR said.



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