Russian wheat export prices continued to rose last week.

According to the IKAR, indeed, Russian wheat with 12.5% protein loading from Black Sea ports for supply in the first half of November was valued at $312 a tonne free on board (FOB) at the end of last week, up $2 from the previous week.

According to the SovEcon, meantime, wheat rose by $3 to $316 a tonne.

Barley export prices was also up by $2, quoting at $273 a tonne.

Domestic 3rd class wheat, European part of Russia, excludes delivery was valued at 14,975 roubles/t ($213) -175 rbls from past week (Sovecon);

Sunflower seeds were at 38,250 rbls/t +450 rbls week over week (Sovecon);

Domestic sunfloweroil quoted at 87,675 rbls/t, +2,350 rbls from l.w. (Sovecon);

Export sunflower oil was at $1,410/t, +$60 (Sovecon);

Export sunflower oil was at $1,400/t,+$40 (IKAR);

Soybeans were at 50,800 rbls/t unchanged (Sovecon);

White sugar, Russia’s south, was at $633.9/t +$7 (IKAR).($1 = 70.3175 roubles)

Outlook

Russian wheat export prices had been substantially stable in the period October 8 – 15.

Meantime, per latest data released by the Ministry of Agriculture, Russian farmers had sown winter grains on 17.0 million hectares for next year’s crop.

That is down from 17.9 million hectares at the same date a year ago.However, some analysts expects Russia’s 2022 wheat crop to rise to 80.7 million tonnes from 75.5 million tonnes in 2021, as weather conditions remain good for development of crops.

Russian wheat exports, however, are down by 29% since the start of the 2021/22 marketing season on July 1, certantly also because of the state export tax, which will increse also this week.

In this context, a stronger rouble currency and higher global prices, are pushing up all grain prices in the Black Sea basin.

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