Russian Wheat Prices Remain Stable By Deliveries From Black Sea Ports

Wheat market

RUSSIAN : Wheat Prices in Russia remained stable last week on the back of improved weather for winter crops and the continuation of the deal for the export of grain from Ukraine, despite the escalation of the Russian-Ukrainian conflict.

Russian prices for wheat with a protein content of 12.5% ​​and delivered from the Black Sea ports at the end of last week remained stable at $325 per ton FOB, the agricultural consulting agency IKAR said on Monday.

Russia kept grain exports at 870,000 tons last week, Sovecon, another consultancy, said, citing port data. Sovecon also said it raised its forecast for wheat exports from Russia for July-June 2022/23 by 300,000 tons to 43.4 million tons of wheat. 

He left his estimate of barley and corn exports unchanged at 6.0 million tons and 4.8 million tons, respectively.

Prices provided by Sovecon and IKAR: 

Price at the end of the week / Change from last week

– Wheat 3 class 12 550 rub/t -100 rub wheat, European part of Russia, without delivery (Sovecon) 

– Sunflower seeds 22,500 RUB/t -725 RUB/t (Sovecon)

– Sunflower oil RUB 73,325/t – RUB 2,350 (Sovecon)

– Domestic soybean 31,675 rubles / t -725 rubles.