Content ID

335093

Russian wheat prices fall with lower demand

* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Oct 24 (Reuters) - Russian wheat prices fell last week, with lower demand and lower global benchmarks in Chicago and Paris amid talks to prolong grain export deal from Ukraine's ports, IKAR agriculture consultancy said in a note on Monday. Russian prices for wheat with 12.5% protein content and for supply from Black Sea ports were at $312 per tonne free on board (FOB) at the end of last week, down $11 from a week earlier, IKAR said. Russia's grain exports rose to 1.06 million tonnes last week from 910,000 tonnes a week earlier, fellow consultancy Sovecon said, citing port data. Farmers have already planted winter grains on 14.9 million hectares compared to 15.3 million hectares around the same date a year ago, Sovecon said. Harvesting of sunflower seeds is being affected by excessive rains in Russia's central and Volga regions, IKAR said, adding that it had lowered its forecast for the sunseed crop to 16.35 million tonnes from 16.95 million tonnes. Other Russian data provided by Sovecon and IKAR: Product: Price at the end Change from week of last week: earlier - Domestic 3rd class 12,675 rbls/t -250 rbls wheat, European part ($207.3) of Russia, excludes delivery (Sovecon) - Sunflower seeds 21,450 rbls/t -225 rbls (Sovecon) - Domestic sunflower 72,675 rbls/t unchanged oil (Sovecon) - Domestic soybeans 29,900 rbls/t -425 rbls (Sovecon) - Export sunflower $1,290/t +$50 oil (Sovecon) - Export sunflower $1,170/t +$20 oil (IKAR) - White sugar, $796.8/t +$17 Russia's south (IKAR) Harvesting data provided by Sovecon as of October 17: All grains: Wheat Barley Corn Sunseeds Crop, mln tonnes 147.2 104.1 24.3 4.4 6.5 Crop, as of same 113.2 76.7 18.6 6.4 11.2 date in 2021 Yield, 3.33 3.59 3.08 6.01 1.81 tonnes/hectare Yield, as of same 2.66 2.81 2.38 4.98 1.62 date in 2021 Harvested area, 44.2 29.0 7.9 0.7 3.6 mln hectares Harvested area, 42.6 27.3 7.8 1.3 6.9 as of same date in 2021 * Russia's agriculture ministry has yet to publish harvesting data in detail for the current season. ** The harvesting data is by bunker weight, i.e. before drying and cleaning of the crop. ($1 = 61.1440 roubles) (Reporting by Polina Devitt; Editing by Louise Heavens)

© Copyright Thomson Reuters 2022. Click For Restrictions - http://about.reuters.com/fulllegal.asp

Read more about
Loading...

Talk in Marketing

Most Recent Poll

Will you have enough on-farm storage for harvest?

I just want to see the responses
46% (21 votes)
Yes
35% (16 votes)
No, it’s going to be a bin-buster
9% (4 votes)
Maybe, depending on yields
7% (3 votes)
No, I am looking at new bins or temporary storage
4% (2 votes)
Total votes: 46
Thank you for voting.