MOSCOW, March 22, 2021
Russian wheat export prices fell for the second consecutive week last week amid weak demand and lower prices in Chicago and Paris.
Prices in Chicago, a benchmark for the wheat market, are near their three-month low as improved weather across the Northern Hemisphere boosted expectations of bumper supplies.
According to the State agriculture consultancy, Russian wheat with 12.5% protein loading from Black Sea ports for supply in April was at $273 a tonne free on board (FOB) at the end of last week, down $7 from the previous week.
Another private consultancy, reported wheat prices fell by $9 to $274 a tonne, while barley fell by $6 to $248 a tonne.
As the weather has improved for the Black Sea crops as well with rains in part of Russia’s southern regions and above-normal temperatures melting the remaining ice-crust in fields, the some consultancy, raised they estimate for Russia’s 2021 wheat harvest last week.
Meantime, thaey reduced its estimate for Russia’s March exports as traders are adjusting to a high wheat export tax.
Product: Price at the end Change from week
of last week: earlier
- Domestic 3rd 13,925 roubles/t -125 rbls
class wheat, ($186,65)
European part of
Russia, excludes
delivery
(Sov. Ag.)
- Sunflower seeds 49,275 rbls/t +3,700 rbls
(Sov. Ag.)
- Domestic 113,025 rbls/t +5,525 rbls
sunflower oil
(Sov. Ag.)
- export $1,550/t -$ 130
sunflower oil
(Sov. Ag.)
- export $1,515/t -$ 140
sunflower oil
(Rus. Ag.)
Domestic
- soybeans 47,800 rbls/t +2,100 rbls
(Sov. Ag.)
- white sugar $629.90/t +$2,70
(Rus. Ag.)
($1 = 74.6061 roubles)
Source: Reuters
