Russian wheat prices fell last week.
Indeed, according to the IKAR, Russian wheat with 12.5% protein content loading from Black Sea ports for supply in January stood at $328 a tonne free on board (FOB), down $2 from thin trade in early January.
SovEcon, another consultancy, pegged wheat at down $1 at $332 per tonne.
Barley export price was down $2 at $295 a tonne.
Domestic 3rd class wheat, European part of Russia, excludes delivery was valued at 15,075 roubles/t ($198.81) +200 rbls from prior week (Sovecon);
Sunflower seeds were at 35,375 rbls/t +475 rbls (Sovecon);
Domestic sunfloweroil was valued at 86,000 rbls/t +650 rbls (Sovecon);
Export price for sunflower oil was at $1,350/t +$35 (Sovecon);
Export price for sunflower oil was at $1,345/t +$35 (IKAR);
Soybeans were at 43,700 rbls/t +400 rbls (Sovecon);
Whitesugar, in Russia’s south was valued at $669.2/t +$10.65 (IKAR);
($1 = 75.8250 roubles)
Outlook:
Russia’s New Year holiday lasted from Dec. 31 to Jan. 9.
Tensions between Moscow and the West, triggered after the United States said it feared Moscow was readying a pretext to justify an invasion Ukraine, hit Russian stocks and the rouble last week.
Russian wheat exports are down by 39% since the start of the 2021/22 marketing season on July 1.
The export duty on wheat has been set at $97.5 per tonne for Jan. 19-25.
As for barley will be at $79.0/t.
As for corn will at $ 46.1/t.
That, is compared to with the week Jan 12-18 when the tax were $98.2 for wheat, $86.2 for barley, $67.7 for corn.
Indicative prices for the period Jan. 19-25 will be $339.3 for wheat, $297.9 for barley and $250.9 for corn.
While during the week Jan 12-18, indicative price were $340.4, $308.2, $281.8 respectvily.
On the weather side, this winter has been very friendly for the 2022 crop so far, with healthy precipitation in most of Russia’s winter wheat-producing regions and warm weather, Sovecon said.
