Russian wheat export prices rose for the 10th consecutive week last week.
According to the IKAR agriculture consultancy, Russian wheat with 12.5% protein loading from Black Sea ports for supply in early October was $301 a tonne, free on board (FOB), at the end of last week, up $1 from the previous week.
Sovecon, another consultancy, pegged wheat as having risen $1.50 to $304.5 a tonne, while barley was steady at $260 a tonne.
Domestic 3rd class wheat European part of Russia, excludes delivery, was at 14,950 roubles/t +25 rbls, ($203.8) (Sovecon);
Sunflower Seeds were at 36,700 rbls/t +3,175 rbls (Sovecon); Domestic sunfloweroil was at 86,500 rbls/t -5,000 rbls (Sovecon); Export sunflower oil was at $1,240/t +$20 (Sovecon);
Export sunflower oil was at $1,260/t +$10 oil (IKAR);
Soybeans were at 48,900 rbls/t +1,400 rbls (Sovecon);
White sugar, Russia’s south, was at $631/t +$8.8 (IKAR).
($1 = 73.3490 roubles).
Outlook
Weather conditions remain good for sowing of winter grains, and the sowing campaign accelerated last week.
In fact, Russian farmers have already sown winter grains on 9.2 million hectares compared to 9.3 million hectares at the same date a year ago.
Meantime, the wheat export tax, which Moscow has set on a weekly basis since June, will fall to $50.9 a tonne for Sept. 22-28 from the current $52.50.
