Russian wheat export prices rose for the 13th consecutive week.
Indeed, according to the consultancy IKAR, Russian wheat with 12.5% protein loading from Black Sea ports for supply in the second half of October was valued at $310 a tonne, free on board (FOB) at the end of last week, up $3 from the previous week.
While according to the SovEcon, wheat rose by $6, quoting at $312 a tonne.
Barley was up by $7 to $269 a tonne, meantime.
Domestic 3rd class wheat European part of Russia, excludes delivery was valued at 15,025 rbls/t +25 rbls ($209.58) (Sovecon);
Sunflower seeds were quoted at 37,450 rbls/t +425 rbls (Sovecon);
Domestic sunfloweroil was valued at 85,325 rbls/t +1,650 rbls (Sovecon);
Sunflower oil export price was at $1,375/t +$55 (Sovecon);
Sunflower oil export price was at $1,355/t +$55 (IKAR);
Soybeans were at 50,800 rbls/t +200 rbls (Sovecon);
White sugar, Russia’s south, was at $623.9/t +$1.8 (IKAR).
($1 = 71.6925 roubles)
Outlook
Russian wheat export price at $312 is a record high that we don’t seen since August 2012, while the domestic wheat market continued to be mostly flat.
“Overall activity in the grain market was low.
Demand in ports was relatively weak”.
Per latest data showed Russian wheat exports were down 27% since the start of the season on July 1.
The tax, which Moscow has set on a weekly basis since June, continued to rise.
It will be at $58.70 per tonne for Oct. 13-19, up from the current $57.80, while the price index on which it is based, remains lower than the actual FOB price.
Winter sowing, meantime, is significantly behind the pace of last year.
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