MOSCOW: Russian export prices for the summer’s new wheat crop fell last week following a decline in global benchmarks in Chicago and Paris, the IKAR agriculture consultancy said in a note on Monday.
Russia, one of the world’s largest wheat exporters, usually starts harvesting in late June-early July. It may increase grain exports in the 2021/22 marketing season, which starts on July 1, despite a smaller crop, its agriculture ministry said last week.
Prices for new crop Russian wheat with 12.5% protein loading from Black Sea ports were at $260 a tonne free on board (FOB) at the end of last week, down $12 from the previous week, IKAR said.
Prices for the old crop were also down, Sovecon, another consultancy, said: wheat fell by $3 to $272 per tonne, barley - by $2 to $248 a tonne.
Rains arrived to part of Russia’s southern and Black Earth regions last week, though it remains dry in the Volga and Stavropol regions, Sovecon said.
Yields of spring wheat in the Volga, the Urals and Siberia will be damaged, according to Sovecon, if rains do not arrive there within one or two weeks.
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