Content ID

333975

Russian wheat prices up with global benchmarks

* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Sept 26 (Reuters) - Russian wheat prices rose last week, tracking gains in Chicago and Paris, inflated by concern over Black Sea supplies because of the Russia-Ukraine conflict, analysts said on Monday. Russian prices for wheat with 12.5% protein content and for supply from Black Sea ports rose by $8 to $325 per tonne free on board (FOB) at the end of last week, the IKAR agriculture consultancy said in a note. Russia exported 900,000 tonnes of grain last week compared with 1 million tonnes the previous week as a lower wheat export tax continues to support traders' margins, fellow consultancy Sovecon said, citing port data. Sovecon sees wheat for immediate delivery at $315-319 per tonne, up from $310-314 per tonne a week ago. Some farmers report insufficient storage capacity, first of all in the Volga region, which is starting to harvest its huge sunflower crop, 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 12,650 rbls/t +50 rbls wheat, European part of Russia, excludes delivery (Sovecon) - Sunflower seeds 23,225 rbls/t -700 rbls (Sovecon) - Domestic sunflower 75,675 rbls/t unchanged oil (Sovecon) - Domestic soybeans 32,400 rbls/t unchanged (Sovecon) - Export sunflower $1,230/t -$40 oil (Sovecon) - Export sunflower $1,135/t +$15 oil (IKAR) - White sugar, $835.7/t -$19 Russia's south (IKAR) Harvesting data provided by Sovecon as of Sept 22: All grains: Wheat Barley Corn Sunseeds Crop, mln tonnes 137.9 100.0 23.6 1.5 2.1 Crop, as of same 103.1 72.9 17.9 2.0 4.1 date in 2021 Yield, 3.36 3.65 3.10 5.92 2.12 tonnes/hectare Yield, as of same 2.63 2.84 2.39 4.53 1.63 date in 2021 Harvested area, 41.0 27.4 7.6 0.3 1.0 mln hectares Harvested area, 39.2 25.6 7.5 0.4 2.5 as of same date in 2021 * Russia's agriculture ministry has yet to publish harvesting data in detail for the current season. (Reporting by Polina Devitt; editing by David Goodman and Jason Neely)

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