Russian wheat export prices rose for an 11th consecutive week last week.
According to the IKAR, Russian wheat with 12.5% protein loading from Black Sea ports for supply in the first half of October, indeed, was at $304 a tonne, free on board (FOB), at the end of last week, up $3 from the previous week.
SovEcon, meantime, pegged wheat steady at $304.5 a tonne.
Barley rose by $0.5 to $260.5 a tonne.
Domestic 3rd class wheat, European part of Russia, excludes delivery, was at 15,025 roubles/t +75 rbls ($206.96) (Sovecon);
Sunflower seeds were at 36,900 rbls/t +200 rbls (Sovecon);
Domestic sunfloweroil was at 83,175 rbls/t -3,325 rbls (Sovecon);
Export sunflower oil was at $1,260/t +$20 (Sovecon);
Export sunflower oil was at $1,280/t +$20 oil (IKAR);
Soybeans were at 50,500 rbls/t +1,600 rbls (Sovecon);
White sugar, Russia’s south was at $625.7/t -$5.3 (IKAR).
($1 = 72.5975 roubles).
Outlook
The wheat export tax, which Moscow has set on a weekly basis since June, will rise to $53.5 a tonne for Sept 29-Oct 5 from the current $50.9.
The price index on which it is based remains lower than the actual FOB price.
In this context, Russian wheat exports are down 22% since the start of this season on July 1, likely due to a smaller crop and a higher export tax.
Meantime, winter sowing is delayed compared with a year ago due to a slow pace in the Central region and earlier dry weather in the Volga region.
Indeed, farmers have already sown winter grains on 10.3 million hectares, down from 11 million hectares at Sept. 24, 2020.
