Russian wheat prices gained again last week.
Indeed, according to the IKAR, Russian wheat with 12.5% protein loading from Black Sea ports for supply in the second half of November was $326 a tonne free on board (FOB) at the end of last week, up $2 from the previous week.
Also SovEcon registered an increas on wheat by $2, pegged it at to $327 a tonne.
Barley rose by $8 at $293 a tonne, meantime.
Russian domestic 3rd class wheat, European part of Russia, excludes delivery was valued at 14,900 roubles/t ($209.2), +50 rbls from previus week (Sovecon);
Russian sunflower seeds were at 35,500 rbls/t, -2,375 rbls wow (Sovecon);
Domestic sunfloweroil, quoted at 87,675 rbls/t, -325 rbls from prior week (Sovecon);
Sunflower oil export price according to Sovecon was at $1,365/t, +$10 f.l. week (Sovecon)
Sunflower oil export price according to IKAR quoted at $1,375/t, +$15 (IKAR);
Soybeans were at 49,700 rbls/t -600 rbls (Sovecon);
White sugar, Russia’s south, quoted at $624/t, -$11(IKAR).
($1 = 71.2111 roubles)
Outlook
The weather remains favourable for development of winter grains sowed for the next year’s crop in the majority of Russia’s regions thanks to earlier or current healthy rains.
However, it should to note that Russian wheat exports are down by 32% since the start of the 2021/22 marketing season on July 1, due to lower crop and the state export tax.
