Wheat export prices of the old crop in Russia remained stable in the past week and trading volume was limited due to the May holidays. Export demand was also limited. Rainfall also reached southern Russia.
Russia experienced a too dry April and is eagerly awaiting further precipitation. The analyst SovEcon believes that the rainfall is too late for some stocks and expects yield losses. In the Stavropol region and in parts of the Krasnodar region, precipitation can no longer prevent the yields from falling this summer.
SovEcon said the forecast for Russia's grain harvest in 2020 was reduced, but a new estimate has not yet been released.
For the next two weeks, weather services expect slightly drier weather than normal in the regions of Krasnodar, Stavropol and Rostov (in the south), the main growing regions for wheat production and export. The conditions in the Central Black Earth and Volga region are expected to be average or better over the next two weeks.
Russia's export prices for wheat with 12.5% protein for immediate delivery remained stable at $ 228 / ton FOB at the end of last week. For the new crop, wheat prices range from $ 198- $ 200 per ton and barley prices range from $ 160-162 per ton. Due to the lack of offers, the prices of the old harvest are no longer reported immediately.
Domestic prices fell 125 rubles to 14,125 rubles ($ 192.15) as a result of falling export demand as a result of the government's decision to freeze the coronavirus crisis.
Russia experienced a too dry April and is eagerly awaiting further precipitation. The analyst SovEcon believes that the rainfall is too late for some stocks and expects yield losses. In the Stavropol region and in parts of the Krasnodar region, precipitation can no longer prevent the yields from falling this summer.
SovEcon said the forecast for Russia's grain harvest in 2020 was reduced, but a new estimate has not yet been released.
For the next two weeks, weather services expect slightly drier weather than normal in the regions of Krasnodar, Stavropol and Rostov (in the south), the main growing regions for wheat production and export. The conditions in the Central Black Earth and Volga region are expected to be average or better over the next two weeks.
Russia's export prices for wheat with 12.5% protein for immediate delivery remained stable at $ 228 / ton FOB at the end of last week. For the new crop, wheat prices range from $ 198- $ 200 per ton and barley prices range from $ 160-162 per ton. Due to the lack of offers, the prices of the old harvest are no longer reported immediately.
Domestic prices fell 125 rubles to 14,125 rubles ($ 192.15) as a result of falling export demand as a result of the government's decision to freeze the coronavirus crisis.
In Russia there were / are from May 1st to 5th and from May 9th to 11th.
Source
Hansa Terminhandel GmbH
