Russia: Wheat export price falls again

The price of Russian export wheat fell for the second time in a row last week as the harvest in Russia progresses and enters the market. Export wheat from Russia with a protein content of 12.5%, loaded at Black Sea ports, cost $ 205 / ton FOB at the end of last week, according to ICAR, a decrease of $ 2 from the previous week. SovEcon also reports a price of $ 205, albeit with a decrease of $ 4 from the previous week. Barley reported a price of $ 183 / ton (- $ 2).
ICAR today raised the forecast for the 2020/21 Russian wheat harvest and exports. SovEcon announced that the company will release an update this week.
Despite recent optimism, there is still a big question mark about Russia's summer grain harvest in the Urals and Siberia, given the challenging weather of the past few months. Weather conditions are the most difficult since 2012. These regions will get some rainfall this week, but it won't be enough to remedy the damage to yields caused by earlier dry weather, SovEcon said.
The pace of Russian grain exports is gradually picking up after a slow start to the season in July.Egypt's state-run grain buyer, a key customer for Russia, bought 410,000 tons of wheat from Russia and Ukraine last week.

Hansa Terminhandel GmbH
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