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This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine
MOSCOW, Nov 21 (Reuters) – Russian wheat prices fell last week amid an extension of the Black Sea deal allowing Ukrainian grain shipments, analysts said on Monday.
Prices for Russian wheat with 12.5% protein content and for supply from Black Sea ports in December were at $314 a tonne free on board (FOB) on Friday evening, down $3.5 from a week earlier, the IKAR agriculture consultancy said in a note.
Russia’s grain exports at 1.03 million tonnes last week were unchanged from the previous week, another consultancy, Sovecon said, citing port data.
Russia’s agriculture ministry has already bought 1.74 million tonnes of grain from the domestic market for the state stockpile in the current July-June season, Sovecon added.
Farmers have planted winter grains on 17.6 million hectares, compared with 18.3 million hectares around the same date a year earlier, the consultancy said. Weather conditions remain friendly for winter wheat, it added.
Other Russian data provided by Sovecon and IKAR:
Product:
Price at the end of last week:
Change from week earlier
– Domestic 3rd class wheat, European part of Russia, excludes delivery (Sovecon)
12,700 rbls/t
-125 rbls
– Sunflower seeds (Sovecon)
21,550 rbls/t
+500 rbls
– Domestic sunflower oil (Sovecon)
73,750 rbls/t
unchanged
– Domestic soybeans (Sovecon)
30,375 rbls/t
+75 rbls
– Export sunflower oil (Sovecon)
$1,260/t
-$40
– Export sunflower oil (IKAR)
$1,200/t
-$50
– White sugar, Russia’s south (IKAR)
$758.4/t
-$9
Harvesting data provided by Sovecon as of Nov. 17:
All grains:
Wheat
Barley
Corn
Sunseeds
Crop, mln tonnes
154.0
105.2
24.5
9.3
12.8
Crop, as of same date in 2021
124.0
78.5
18.9
14.2
15.2
Yield, tonnes/hectare
3.38
3.60
3.09
5.88
1.80
Yield, as of same date in 2021
2.75
2.82
2.40
5.45
1.60
Harvested area, mln hectares
45.6
29.2
7.9
1.6
7.1
Harvested area, as of same date in 2021
45.0
27.8
7.9
2.6
9.5
* Russia’s agriculture ministry has yet to publish detailed harvesting data for the current season.
** The harvesting data is by bunker weight, i.e. before drying and cleaning of the crop.
(Reporting by Polina Devitt; Editing by Nick Macfie)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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