Russia's wheat export prices fell last week as rains have improved conditions for the upcoming new harvest.
The grain harvest in Russia, the world's largest wheat exporter, usually begins in the second half of June. The country produced a record harvest in 2017 and the conditions for this year's harvest are also very good.
The new crop's 12.5% protein Black Sea export wheat prices were $ 199 / ton fob on Friday. That was $ 3 / ton less than in the previous week.
By May 16 and since the start of the marketing year on July 1, 2017, Russia exported 46.6 million tonnes of grain. Of these, 36.2 million tonnes were wheat. An export plus compared to the marketing period 2016/17 of 45%.
Russia's exports of wheat, barley and corn in May are estimated at 4.9 million tonnes, comparable to 4.3 million tonnes in the previous year's season.
The field order is completed on 49% of the planned summer cereal areas. This is 15.3 million hectares (previous year: 1.7.4 million hectares).
Local prices for Class IV wheat in European Russia increased by 50 rubles to the equivalent of $ 142 / tonne ex loading station.
Text: HANSA Derivatives Trading GmbH/
