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Russian Wheat Prices Rise With Active Exports

Russian wheat export prices rose last week amid active supplies from the country’s Black Sea ports, analysts said on Monday. Prices for wheat with 12.5% protein content and for supply from Black Sea ports in June rose $15 to $425 free on board (FOB) at the end of last week, the IKAR agriculture consultancy said. Russia exported 620,000 tonnes of grains last week compared with 360,000 tonnes a week earlier, another consultancy, Sovecon, said, citing data from ports.

The consultancy said on Friday that it had raised its forecast for Russia’s wheat exports in the new July-June marketing season by 1.3 million tonnes to a record high of 42.3 million tonnes. Spring grains were planted on 26.8 million hectares as of June 2 vs 28.4 million hectares a year ago as the planting campaign is still delayed in the European part of Russia, Sovecon said.

Other Russian data provided by Sovecon and IKAR:

Product: Price at the end Change from week of last week: earlier

– Domestic 3rd class 15,075 rbls/t -50 rbls wheat, European part ($247.74) of Russia, excludes delivery (Sovecon)
– Sunflower seeds 33,700 rbls/t -1,050 rbls (Sovecon)
– Domestic sunflower 97,500 rbls/t -3,000 rbls oil (Sovecon)
– Domestic soybeans 44,400 rbls/t -1,300 rbls (Sovecon)
– Export sunflower $1,860/t -$60 oil (Sovecon)
– Export sunflower $1,750/t -$100 oil (IKAR)
– White sugar, $933.7/t -$33.3 Russia’s south (IKAR)
Source: Reuters (Reporting by Reuters, Editing by Louise Heavens)

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