MOSCOW: Russian wheat export prices have drifted slightly lower in a pre-holiday demand slowdown, analysts say.
The price for Russian wheat with 12.5 percent protein content for free-on-board (FOB) delivery in late January to early February was USD227 a metric ton at the end of last week, down USD1 from the previous week, said Dmitry Rylko, head of the IKAR consultancy.
The Sovecon consultancy estimated the price for Russian wheat with 12.5 percent protein content at between USD228 and USD230 a ton FOB, the same level as a week earlier.
Sovecon maintained its export assessment of December wheat exports at 3.9 million tons, against 3.4 million tons last December.
IKAR believes that wheat exports in December could reach 4.5 million tons or more, given the more active shipments last week.
Sovecon said on Thursday that it had raised its 2025 Russian wheat production forecast by 0.2 million tons to 88.8 million tons. Russia is expected to harvest 137 million tons of grain in 2025, slightly more than the previous forecast of 135 million tons, including 90 million tons of wheat, government officials said last week.
Data from the Ministry of Agriculture at the end of last week showed that the 2025 harvest has been completed in Russia on 97.5 percent of the sown area.
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