Friday, June 9

Russian wheat prices lower amid strong supplies

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MOSCOW — Russian wheat prices

declined last week on the back of continued high supplies from

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Russia and lower prices from the country’s major competitors,

including Ukraine, analysts said.

The dip in prices for Russian wheat also came as Moscow said

last Tuesday it was extending the Black Sea grain deal – which

would have expired on March 18 if any of the parties had

Objected to its continuation – for a period of 60 days.

Prices for Russian wheat with 12.5% ​​protein content,

delivered free on board (FOB) from Black Sea ports, fell $13 to

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$277 a tonne last week, the IKAR agriculture consultancy said.

Russia exported 870,000 million tons of grain during the

week to 15 March – 750,000 tons of which was wheat, the

SovEcon agriculture consultancy said. That was down from 1.14

million tons of grain and 1 million tons of wheat a week

earlier, but remains at high levels compared to recent years.

SovEcon estimates Russia’s wheat exports in March could

reach 4.2 million tons, up from 2.1 million tons a year

earlier and the highest level for March since 2018.

Other Russian data provided by Sovecon and IKAR:

Product: Most recent data: Change from week


– Domestic 3rd class 12,050 rbls/t -50 rbls/t

wheat, European part

of Russia, excludes

delivery (Sovecon)

– Sunflower seeds 26,100 rbls/t -1,825 rbls/t


– Domestic sunflower 77,025 rbls/t -1,150 rbls/t

oil (Sovecon)

– Domestic soybeans 33,600 rbls/t no change


– Export sunflower $990/t no change

oil (IKAR)

– White sugar, $700.17/t -$4.70

Russia’s south


(Reporting by Olga Popova,

Writing by Jake Cordell,

Editing by Gareth Jones)