Russian export prices for the summer’s new wheat crop fell last week under pressure from approaching good crop in the Black Sea area.
According to IKAR, prices for new-crop Russian wheat with 12.5% protein loading from Black Sea ports and for supply in July were $248 a tonne free on board (FOB) at the end of last week, down $7 from the previous week.
The other prices have seen domestic 3rd class wheat, 13,775 roubles/t -250 rbls ($188.7) European part of Russia, excludes delivery (SovEcon);
#Sunflower seeds 45,925 rbls/t -1,225 rbls (Sovecon);
Domestic sunflower oil 106,175 rbls/t -6,500 rbls (Sovecon);
Export sunfloweroil $1,100/t -$170 (Sovecon);
Export sunflower oil $1,025/t -$242 (IKAR);
Soybeans 49,400 rbls/t -1,200 rbls (Sovecon);
Whitesugar, $602.8/t -$8 Russia’s south (IKAR).
($1 = 72.9870 roubles).
Wheat exports from Russia, Ukraine and Kazakhstan are expected to rise by 5% in new 2021/22 marketing season.
Russia’s wheat export tax, which Moscow changes each week, has risen by $10 since its launch on June 2 to $38.1 per tonne but still remains low compared with the level in May.
The weather is improving both for winter and spring crops in Russia.
Southern, Central and Volga regions saw good rains last week.
This week is expected to be dry and warm – positive for southern farmers who will start harvesting within one or two weeks.
