Russia: Wheat export prices rose sharply last week

Russian wheat export prices rose sharply last week due to deteriorating harvest expectations in Europe and the Black Sea region.
Russian wheat with 12.5% ​​protein cost $ 235 / ton FOB at the end of last week, compared to $ 223 a week earlier, according to Russian agricultural consultancy IKAR.
SovEcon, another Moscow-based agricultural consultancy, reports a price increase at the FOB-based deep sea ports of $ 15 to $ 231.50.
Prices continued to rise due to more and more recent reports of weaker harvests in the EU and quality problems of the harvest in Russia. In addition, a rumor that Ukraine intends to limit wheat exports caused the sharp rise.
Since the beginning of the marketing period 2018/19 (1 July) Russia exported 4.73 million tonnes of grain, of which 3.8 million tonnes of wheat, reports the Ministry of Agriculture.
At 641,000 tonnes, barley exports were 5% higher than the previous year's exports at the same time. Maize exports increased by 36% to 257,000.
For the 2018/19 marketing period, SovEcon expects to export 44.8 million tonnes of grain, including 35 million tonnes of wheat.
Third-class wheat rose 375 rubles last week in Russia's European part to 9,675 rubles / ton ($ 151.99). Fourth-class wheat rose by 300 rubles to 9,500 rubles.
Prices of sunflower seed increased by 200 rubles to 22,075 rubles / ton. For sunflower oil, the domestic price rose by 325 rubles to 46,500 rubles / tonne. Oil export prices remained unchanged at $ 710.

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