Russian wheat export prices rose last week amid active supplies from the country’s Black Sea ports, analysts said on Monday. Prices for wheat with 12.5% protein content and for supply from Black Sea ports in June rose $15 to $425 free on board (FOB) at the end of last week, the IKAR agriculture consultancy said. Russia exported 620,000 tonnes of grains last week compared with 360,000 tonnes a week earlier, another consultancy, Sovecon, said, citing data from ports.
The consultancy said on Friday that it had raised its forecast for Russia’s wheat exports in the new July-June marketing season by 1.3 million tonnes to a record high of 42.3 million tonnes. Spring grains were planted on 26.8 million hectares as of June 2 vs 28.4 million hectares a year ago as the planting campaign is still delayed in the European part of Russia, Sovecon said.
Other Russian data provided by Sovecon and IKAR:
Product: Price at the end Change from week of last week: earlier
– Domestic 3rd class 15,075 rbls/t -50 rbls wheat, European part ($247.74) of Russia, excludes delivery (Sovecon)
– Sunflower seeds 33,700 rbls/t -1,050 rbls (Sovecon)
– Domestic sunflower 97,500 rbls/t -3,000 rbls oil (Sovecon)
– Domestic soybeans 44,400 rbls/t -1,300 rbls (Sovecon)
– Export sunflower $1,860/t -$60 oil (Sovecon)
– Export sunflower $1,750/t -$100 oil (IKAR)
– White sugar, $933.7/t -$33.3 Russia’s south (IKAR)
Source: Reuters (Reporting by Reuters, Editing by Louise Heavens)