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Russia. New-crop wheat export prices increased slightly last week

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Author:

Consulting Agency UkrAgroConsult

UkrAgroConsult

New-crop wheat prices in the Russian export market slightly increased (+$1-2/MT FOB in deep-sea ports) following trends in both the Russian and world markets, reports UkrAgroConsult.

In view of dryness in southern Russia, market participants continue reducing wheat production forecasts for Russia. Their average decreased by another 0.5 MMT, to 79-82 MMT.

Meanwhile, drought in the south of the country has had no substantial adverse impact on winter wheat and winter barley, but it may affect late spring crops.

Harvest in single regions of the Southern and North Caucasian federal districts and in Saratov region began on average a week earlier than last year. The first yield figures are on average 8-9% higher than in 2018.

Noteworthy, Russian government has extended the zero export duty on wheat until July 1, 2021.

More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for Online Analytics "Black Sea Grain" in the new innovative tool for agri market participants – AgriSupp.com by UkrAgroConsult. We offer 2-week trial! Completely free!

Please be reminded that on September 5, UkrAgroConsult will host a major meeting point of the oilseed industry operators - the 7th International Conference “Black Sea Oil Trade-2019” in Hilton, Kyiv, Ukraine.

‘Black Sea Oil Trade’ conference annually brings together key players of the global agribusiness at the start of a new oilseed season. The goal of the conference is to discuss prospects and directions of the Black Sea and global oilseed market development, exchange international contacts, share recommendations for adapting business strategies in the changing market and global trade.

More than 250 delegates from 25+ countries attend the conference annually. Conference participants are represented by producers and crushers of oilseeds, traders, enterprises for deep processing of vegoils, investment companies, banks, legal, shipping, brokerage, insurance, surveyor and other companies.

 

UkrAgroConsult

 

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