MOSCOW – February 8, 2021
Russian wheat export prices fell sharply last week due to a weakening of the rouble and still limited demand on global markets.
Moscow aims to reduce wheat exports to help curb rising domestic food prices and plans to switch to a more complicated formula-based regime in the summer.
Russian wheat with 12.5% protein loading from Black Sea ports for supply in March was between $285 and $286 a tonne free on board (FOB) at the end of last week, down on average $8,5 from the previous week, while barley rose by $1 to $248.
The weather in Russian wheat-producing regions remained mostly dry with temperatures above normal and in other areas an approaching cold snap was likely to be short-lived.
The Black Earth and the Volga Valley received good snow during the week.
However, the South and the Lower Volga were mostly dry.
Temperatures remained above norm (+1-3C).
Product: Price at the end Change from week
of last week: earlier
- Domestic 3rd 15,225 roubles/t -175 rbls
class wheat, ($204,55)
European part of
Russia, excludes
delivery
(Sov. Ag.)
- Sunflower seeds 42,725 rbls/t +1,325 rbls
(Sov. Ag.)
- Domestic 95,500 rbls/t +2,825 rbls
sunflower oil
(Sov. Ag.)
- export $1,270/t unch
sunflower oil
(Sov. Ag.)
- export $1,263/t -$7
sunflower oil
(Rus. Ag.)
- Soybeans 42,000 rbls/t +1.500 rbls
(Sov. Ag.)
- white sugar, $528.2/t +$16.9
Russia's south
(Rus. Ag.)
($1 = 74.4310 roubles)
Source: Reuters
