MOSCOW, June 7 (Reuters) – Russian export costs for the summer time’s new wheat crop have been regular final week as a result of a stronger rouble RU/RUB, which was supported by increased oil costs, analysts stated on Monday.
Costs for new-crop Russian wheat with 12.5% protein loading from Black Sea ports and for provide on the finish of July have been $256 a tonne free on board (FOB) on the finish of final week, unchanged from the earlier week, the IKAR agriculture consultancy stated in a observe. 0#IKAR
Sovecon, one other consultancy, stated that barley rose by $2 to $247 a tonne. 0#GRAIN-RU
Russia’s wheat export tax, which Moscow began setting every week from June, is steadily rising however stays low in contrast with the extent in Might.
IKAR raised its forecast for Russia’s 2021 wheat crop by 500,000 tonnes to 80.Zero million tonnes on Monday.
Wholesome rains in Russia’s southern areas final week improved the situation of most of winter and spring sowings earlier than harvesting begins in late June or early July.
Nonetheless, in elements of the areas rains have been extreme. “In some instances, it was an excessive amount of and should result in high quality issues as a result of fusariosis,” Sovecon stated.
This week, rains are anticipated to reach to different spring wheat producing areas – the Volga, the Urals and Siberia – which have been dry earlier than.
Following is a abstract of different Russian information supplied by Sovecon and IKAR:
Product:
Value on the finish of final week:
Change from week earlier
– Home third class wheat, European a part of Russia, excludes supply (Sovecon)
14,200 roubles/t
($195)
-125 rbls
– Sunflower seeds (Sovecon)
52,175 rbls/t
-925 rbls
– Home sunflower oil (Sovecon)
116,350 rbls/t
-2,000 rbls
– export sunflower oil (Sovecon)
$1,290/t
-$180
– export sunflower oil (IKAR)
$1,300/t
-$150
– Soybeans (Sovecon)
52,400 rbls/t
unchanged
– white sugar, Russia’s south (IKAR)
$602/t
-$3.8
($1 = 72.7800 roubles)
(Reporting by Olga Popova; writing by Polina Devitt; modifying by David Evans)
((Polina.Devitt@thomsonreuters.com))
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