Content ID

332238

Russian wheat down as new crop arrives

* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Aug 15 (Reuters) - Russian wheat export prices fell last week after a larger new crop and the gradual recovery of exports from Ukraine's Black Sea ports, analysts said on Monday. Russian prices for wheat with 12.5% protein content and for supply from Black Sea ports fell by $5 to $350 a tonne free on board (FOB) at the end of last week, the IKAR agriculture consultancy said in a note. Russia exported 890,000 tonnes of grain last week, compared with 780,000 tonnes the previous week, fellow consultancy Sovecon said, citing port data. The wheat price for immediate supply was $349-353 per tonne vs $350-355 a week ago, it added. Prices in the domestic market also fell, Sovecon said because of weaker demand from exporters and concerns about the quality of the new crop. "There is a lot of chatter about poor quality. There are many offers of sprouted grain in Russia's central regions," Sovecon said. Hot and dry weather is expected in Russia's Volga regions this week, which could hit the spring wheat crop in this area, it added. Other Russian data provided by Sovecon and IKAR: Product: Price at the end Change from week of last week: earlier - Domestic 3rd class 12,825 rbls/t -125 rbls wheat, European part ($208.2) of Russia, excludes delivery (Sovecon) - Sunflower seeds 25,700 rbls/t +500 rbls (Sovecon) - Domestic sunflower 73,675 rbls/t +600 rbls oil (Sovecon) - Domestic soybeans 34,250 rbls/t +150 rbls (Sovecon) - Export sunflower $1,430/t +$40 oil (Sovecon) - Export sunflower $1,360/t +$30 oil (IKAR) - White sugar, $1,047.5/t -$39.5 Russia's south (IKAR) The harvesting data provided by Sovecon as of Aug 11*: All grains: Wheat Barley Crop, mln tonnes 75.5 62.8 8.9 Crop, as of same 74.9 56.3 13.1 date in 2021 Yield, 4.17 4.43 3.67 tonnes/hectare Yield, as of same 3.04 3.32 2.66 date in 2021 Harvested area, 18.1 14.2 2.4 mln hectares Harvested area, as 24.6 16.9 4.9 of same date in 2021 * Russia's agriculture ministry has yet to publish harvesting data in detail for the current season. ($1 = 61.6000 roubles) (Reporting by Reuters; editing by Barbara Lewis)

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