Russian wheat prices continue to rise

Russia's wheat export prices have been rising for two weeks. The reason for this is said to be a slow progress of the harvest, the grain harvest started anyway later than last year. Farmers in southern Russia are currently only offering their crops with restraint.
Russian export wheat with 12.5% protein shipped through Black Sea ports cost $ 208.5 / ton fob at the end of last week. That was $ 6.5 / tonne more than the previous week. Barley prices rose $ 5 / ton to $ 181 / ton.
In general, it can be seen that the grain farmers in southern Russia are not really willing to sell. But that could change in a few weeks if more supply comes from the Volga region or from Central Russia.
The market analyst SovEcon now estimates the Russian wheat harvest in 2020 at 79.7 million tons. That is more than other market analysts see. There is still no reliable number for the acreage. The official figure for land use in Russia will not be published until the end of July.
It had rained in the Volga region and neighboring regions in the past few days, but it is too dry in Western Siberia and the Urals. That should depress the yields of summer cereals.

Hansa Terminhandel GmbH
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