Content ID

331886

Russian wheat down with global benchmark as Ukraine exports resume

* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Aug 8 (Reuters) - Russian wheat export prices fell last week after a decline in wheat prices in Chicago and a gradual resumption of Ukraine exports from 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 $3 to $355 a tonne free on board (FOB) at the end of last week, the IKAR agriculture consultancy said in a note. Russia exported 780,000 tonnes of grain last week, compared with 650,000 tonnes the previous week, said fellow consultancy Sovecon, citing port data. In the domestic market, prices for food wheat fell in the southern part of the country amid strong demand from exporters, while prices for low-quality fifth-grade wheat continued to fall sharply as supply rises sharply. "There is a lot of talk about 'record-low quality this year' but this is typical for bumper crop years like the current one," Sovecon said. Other Russian data provided by Sovecon and IKAR: Product: Price at the end Change from week of last week: earlier - Domestic 3rd class 12,950 rbls/t -50 rbls wheat, European part ($215.5) of Russia, excludes delivery (Sovecon) - Sunflower seeds 25,200 rbls/t -225 rbls (Sovecon) - Domestic sunflower 73,075 rbls/t +400 rbls oil (Sovecon) - Domestic soybeans 34,100 rbls/t -50 rbls (Sovecon) - Export sunflower $1,390/t +$60 oil (Sovecon) - Export sunflower $1,330/t +$60 oil (IKAR) - White sugar, 1,087/t -$34 Russia's south (IKAR) The harvesting data provided by Sovecon as of Aug 4*: All grains: Wheat Barley Crop, mln tonnes 56.5 48.9 5.8 Crop, as of same 64.6 49.0 10.9 date in 2021 Yield, 4.26 4.45 4.02 tonnes/hectare Yield, as of same 3.18 3.42 2.83 date in 2021 Harvested area, 13.3 11.0 1.5 mln hectares Harvested area, as 20.3 14.3 3.9 of same date in 2021 * Russia's agriculture ministry has yet to publish harvesting data in detail for the current season. ($1 = 60.1000 roubles) (Reporting by Reuters Editing by David Goodman)

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