Russian wheat export prices stop rising as weather improves
MOSCOW, Oct 28 (Reuters) -Russian wheat export prices have stopped rising as weather conditions both globally and in Russia's main grain-producing regions improve, and as demand falls.
Russia's October exports are, however, still expected to reach a record high.
The price of 12.5% protein Russian wheat, scheduled free-on-board (FOB) for delivery in November, was $232 per metric ton at the end of last week, a drop of $2, according to Dmitry Rylko, head of the IKAR consultancy, who told Reuters that "the demand for wheat fell somewhat".
The Sovecon consultancy reported that prices for Russian wheat with the same protein content were $235-$240 per ton, up from $234-$237 the previous week.
"We expect Russian FOB to remain flat or move somewhat lower," the agency said.
Weekly grain exports are estimated at 1.02 million tons, down from 1.09 million tons the previous week, including 1.0 million tons of wheat, similar to the week before.
Sovecon raised its October export estimate by 0.2 million tons to a potential new record of 5.0 million tons, compared to 4.7 million tons a year ago, which is the current highest amount on record.
Analysts last week provided their first estimates for the 2025 wheat crop, which is currently expected to be in line with this year's levels.
"Russian southern regions received much-needed rain this week, which, along with warm weather, could help wheat develop before winter," Sovecon wrote in a note.
Over the next week, major winter wheat regions are forecast to receive more moisture and air temperatures will remain slightly above normal. The harvesting of the 2024 crop is nearing completion in Russia.
As of Oct. 18, Russian farmers had harvested 121.1 million tons of grain (compared to 136.2 million tons in 2023), including 83.1 million tons of wheat (down from 92.8 million tons last year).
Winter grains were sown on 15.1 million hectares, compared to 16.0 million hectares in 2023.
Other Russian data provided by Sovecon and IKAR:
Product: | Most recent data: | Change from a week earlier |
- Domestic 3rd class wheat, European part of Russia, excludes delivery (Sovecon) | 15,350 rbls/t | 0 rbls/t |
- Sunflower seeds (Sovecon) | 37,250 rbls/t | +500 rbls/t |
- Domestic sunflower oil (Sovecon) | 95,675 rbls/t | +1,175 rbls/t |
- Domestic soybeans (Sovecon) | 41,300 rbls/t | 600 rbls/t |
- Export sunflower oil (IKAR) | $1,070/t | +$30 |
- White sugar, Russia's south (IKAR) | $604.71/t | +$2.55/t |
Reporting by Olga Popova, editing by Gleb Bryanski, Kirsten Donovan
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Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
