Russian export wheat price rises with stock market prices

Russian export prices for wheat rose strongly again last week. This is followed by the rally on the futures exchanges, which is getting more and more feed due to constantly lower crop estimates.
For example, wheat production in the world is expected to reach a 5-year low, according to the IGC
Black Sea wheat with 12.5% ​​protein for delivery in August cost $ 223 / ton fob on Friday. That was $ 12 more than in the previous week.
The consulting firm SovEcon estimates Russia's 2018/19 grain exports to be only 44.8 million tonnes compared to 47.2 million tonnes in the previous estimate. Wheat exports would have been estimated at 35 million tonnes and 36.9 million tonnes previously.
In addition, SovEcon is lowering its estimate for barley exports by 400,000 tonnes to 4 million tonnes and for maize by 100,000 tonnes to 3.9 million tonnes.
In the period from 1 July to 25 July, Russia exported 3.3 million tons of grain, including 2.5 million tons of wheat, according to the Ministry of Agriculture in Moscow. This is significantly more than in the same period of the previous year, because the harvest started earlier due to dry weather in many regions.
The world's largest wheat exporter harvested 34.3 millionTons of grain of 20% of the acreage, similar to last year (33.8 million tons). The Russian peasants need dry harvest weather in the coming days after harvest delays in the Volga region and central Russia. But there are no damage or loss of quality so far. But that could happen if the harvest does not pick up speed soon.
In the European part of Russia, on the other hand, a few days of dry weather is expected.
Text: HANSA Derivatives Trading GmbH /

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