MOSCOW, June 15 (Business Recorder): Russian wheat export prices were broadly flat last week, while exports declined, analysts said on Tuesday. Prices for wheat with 12.5 per cent protein content and for supply from Black Sea ports were stable around $425 free on board (FOB) at the end of last week, the IKAR agriculture consultancy said.
The consultancy said on Friday that it sees Russia's 2022 wheat crop at 87 million tonnes, up from the 85 million tonnes it forecast on May 18. IKAR placed Russia's export potential at 41 million tonnes, compared to 39 million tonnes previously. Russia exported 340,000 tonnes of grains last week compared with 620,000 tonnes a week earlier, another consultancy, Sovecon, said, citing data from ports.
Spring grains were planted on 28.5 million hectares as of June 9 vs 29.2 million hectares a year ago, the consultancy added.
A new report from the US Department of Agriculture (USDA) holds few, if any, surprises. After the announcement, the price development of wheat and maize on the futures market in Chicago therefore remained almost flat.
Russian wheat prices stable
FE Team | Published: June 15, 2022 21:56:11
Russian wheat prices stable
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