Russian wheat export prices fell for a third week in a row, last week.
An increasingly weaker ruble against the dollar and tensions between Moscow and the West continued to weigh on wheat export prices.
Indeed, according to the IKAR, Russian wheat with 12.5% protein content loading from BlackSea ports for supply in March stood at $325 a tonne free on board (FOB) last week, down $1 from the previous week.
According to SovEcon wheat export price, was valued at $330 a tonne, $1 down from prior week.
Barley price, in contrast, was up $1 at $296 a tonne.
The other Russian data provided by Sovecon and IKAR have seen:
The domestic 3rd class wheat, European part of Russia, excluded delivery, at 15,200 +225 rbls roubles/t ($195.83) (Sovecon);
Sunflower seeds at 37,550 rbls/t + 1,350 rbls (Sovecon);
Domestic sunfloweroil at 88,175 rbls/t +1,675 rbls (Sovecon);
Export sunflower oil at $1,380/t +$25 (IKAR);
Soybeans at 44,550 rbls/t +650 rbls (Sovecon);
Whitesugar, Russia’s south, at $639.7/t -$13 (IKAR).
($1 = 77.6200 roubles)
Outlook:
The West threatened to impose fresh sanctions against Russia if it takes aggressive steps towards Ukraine.
Russia denies that it is planning an attack, but the rouble remains volatile because of the persisting geopolitical fears.
Meantime, Russian wheat exports are down by 41% since the start of the 2021/22 marketing season on July 1.
The export duty for wheat, barley and corn during the week of February 02-08, 2022, will be $93.9 on wheat, $74.6 on barley and $49.2 on corn.
Indicative prices will be $334.2 for wheat, $291.7 for barley and $255.3 for corn.
That is compared, with prior week (Jan 26-Feb 01) when the #tax was $95.8 for wheat, $74.40 for barley and $50.6 for corn, while indicative price were $336.9 for wheat, $291.3 for barley and $257.4 for corn.
