10.
09.18
15:23

Russia: declining wheat export prices

Export prices for wheat in Russia fell in the wake of the weaker ruble and falling wheat prices in Chicago last week. Black Sea wheat with 12.5% ​​protein cost $ 215.00 / ton FOB late last week, according to IKAR, one of the leading Russian agricultural consultancies. That's a drop of $ 10 the previous week. SovEcon only reports a decline of $ 2 to $ 221 / ton of wheat. For barley, the price dropped $ 1 to $ 232 / ton, according to SovEcon.
As of August 30, Russia exported cereals with a volume of 9.8 million tons in the current marketing year 2018/19. This is an increase of 39% compared to exports in the same period last year. The wheat exports contained therein amounted to 8.2 million tons.
Russia expects a grain harvest of 105 million tonnes, which would allow wheat exports of 30 million tonnes in the marketing year 2018/19, the Deputy Minister of Agriculture said in a statement today.
SovEcon reduced its grain harvest forecast from 109.6 million tonnes to 108.3 million tonnes. The reason for this is the revised estimate for the corn crop. It is expected to be the smallest since 2012 with a volume of 10.6 million tons.The wheat harvest forecast increased SovEcon by 200,000 tonnes to 69 million tonnes.
The price of wheat of class 3 in the European part of Russia increased by 150 rubles to 10,900 rubles ($ 155).

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