Russian wheat export prices fell last week after a decline in wheat prices in Chicago and the signing of a deal aimed at resumption of massive exports from Ukraine, analysts said on Monday. Russia, Ukraine, the United Nations and Turkey signed the deal on Friday to reopen three Ukrainian Black Sea ports for grain exports.
The deal is valid for 120 days and targets monthly exports of 5 million tonnes. Russian prices for wheat with 12.5% protein content and for supply from Black Sea ports fell by $5 to $355 a tonne free on board (FOB) at the end of last week, the IKAR agriculture consultancy said in a note. Russia exported 540,000 tonnes of grain last week, compared with 500,000 tonnes the previous week, said fellow consultancy Sovecon, citing port data. Wheat prices for imminent supply were at $350-355 per tonne vs $355-360 a week before, 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 13,025 rbls/t -250 rbls wheat, European part ($225.54) of Russia, excludes delivery (Sovecon) – Sunflower seeds 25,600 rbls/t -650 rbls (Sovecon) – Domestic sunflower 73,175 rbls/t -825 rbls oil (Sovecon) – Domestic soybeans 34,400 rbls/t -525 rbls (Sovecon) – Export sunflower $1,380/t -$20 oil (Sovecon) – Export sunflower $1,250/t -$60 oil (IKAR) – White sugar, $1,080/t -$9.9 Russia’s south (IKAR) The harvesting data provided by Sovecon as of July 21*: All grains: Wheat Barley Crop, mln tonnes 32.6 27.6 3.9 Crop, as of same 34.9 26.8 4.8 date in 2021 Yield, 4.2 4.4 4.3 tonnes/hectare Yield, as of same 3.4 3.5 3.5 date in 2021 Harvested area, 7.8 6.3 0.9 mln hectares Harvested area, as 10.4 7.7 1.4 of same date in 2021 * Russia’s agriculture ministry has yet to publish harvesting data in detail for the current season.
Source: Reuters (Reporting by Reuters Editing by David Evans)