Content ID

333195

Russian wheat prices fall with harvest pressure

* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Sept 5 (Reuters) - Russian wheat export prices fell last week under pressure from the new crop, analysts said on Monday, adding that demand from importers was rising. State grain buyers for Egypt and Algeria bought Russian wheat last week. Russian prices for wheat with 12.5% protein content and for supply from Black Sea ports fell by $5 to $310 a tonne free on board (FOB) at the end of last week, the IKAR agriculture consultancy said in a note. Russia exported 760,000 tonnes of grain last week, compared with 660,000 tonnes the previous week, fellow consultancy Sovecon said, citing port data. Sovecon sees wheat prices for immediate supply at $310-315 a tonne, down from $312-318 a week ago. Russia is expected to remain mostly dry this week, Sovecon said, adding that farmers had already sown winter grains for the 2023 crop on 2.5 million hectares. That compares with 2.9 million hectares around the same date in 2021. Other Russian data provided by Sovecon and IKAR: Product: Price at the end Change from week of last week: earlier - Domestic 3rd class 11,975 +50 rbls wheat, European part rbls/t($197.9) of Russia, excludes delivery (Sovecon) - Sunflower seeds 25,675 rbls/t -425 rbls (Sovecon) - Domestic sunflower 72,675 rbls/t -1,350 rbls oil (Sovecon) - Domestic soybeans 34,250 rbls/t unchanged (Sovecon) - Export sunflower $1,360/t -$70 oil (Sovecon) - Export sunflower $1,190/t -$130 oil (IKAR) - White sugar, $838.3/t -$48.4 Russia's south (IKAR) Harvesting data provided by Sovecon as of Sept 1: All grains: Wheat Barley Crop, mln tonnes 117.9 86.9 20.8 Crop, as of same 90.9 66.0 16.4 date in 2021 Yield, 3.62 3.99 3.18 tonnes/hectare Yield, as of same 2.73 3.00 2.46 date in 2021 Harvested area, 32.5 21.8 6.5 mln hectares Harvested area, as 33.3 22.0 6.7 of same date in 2021 * Russia's agriculture ministry has yet to publish harvesting data in detail for the current season. ($1 = 60.5000 roubles) (Reporting by Polina Devitt Editing by David Goodman )

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