Russia: Wheat export prices rose sharply for the second time in a row

Russia's wheat export prices rose sharply for the second week in a row, reflecting the rise in wheat futures traded in Chicago.
Russian export wheat with 12.5% protein, loaded at Black Sea ports for delivery in September, rose by $ 5 late last week on the previous week based on FOB, reports the Russian agricultural consultancy Ikar. SovEcon, another Russian consulting firm based in Moscow, reports a price increase of $ 8 to $ 214 / ton. The price of barley rose by $ 1 to $ 186 / ton.
Russia's farmers who have started planting winter wheat for next year's harvest are increasingly concerned about the lack of rainfall, SovEcon said. Even light rainfall would help the future crop develop, but most regions are likely to remain dry for the next two weeks, the company said. Winter wheat for the 2021 harvest was sown on 23% of the planned area or on 4.2 million hectares.
Regarding this year's crop, Sovecon said that very small crops of corn and sunflower are expected in the southern regions of Russia. However, an estimate was not published.However, it is expected that sales of wheat and barley that have already been harvested could slow down because less storage space is required for corn and sunflowers.

Hansa Terminhandel GmbH
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