Market commentary

SovEcon cut 2020/21 Russia’s wheat export estimate by 10%

SovEcon, a leading Black Sea agricultural markets consultancy, cut 2020/21 Russia’s wheat export estimate from 40.8 MMT to 36.3 MMT …

Wheat FOB prices rise on Russia’s customs’ delays

Russian 12.5% wheat prices in deep-sea ports rose $2 again to $259/mt (FOB) on customs’ delays, things are improving this week

Russian wheat flat, grain processors lobby for export tax

Russian export market remains relatively flat. 12.5% wheat prices in deep-sea ports declined by $1 to $253/mt. The market continues to watch the weather in the Black Sea and follow closely a discussion about potential export restrictions.

Russian wheat is slightly higher on firm domestic market

Russian export prices were slightly higher this week, supported by the domestic market. 12.5% wheat prices in deep-sea ports rose $1 to $254/mt, in shallow ports were up $2 to $235/mt.

Russian wheat down $2 week on week, weather improves

Russian 12.5% wheat prices in deep-sea port were marginally down week on week, by $2 to $253/mt, as per SovEcon

Russian wheat hits a new high on China’s imports and poor outlook for corn crop in the Black Sea

Wheat climbes higher supported by corn which is driven by Chinese imports and poor Black Sea crop

The Black Sea 20/21 round-up: Good wheat crop and exports despite a disappointing start

The start of the 2020 wheat harvest campaign around the Black Sea was a disaster. Both Russia and Ukraine were reporting yields around 30% lower than a year ago after a prolonged dryness period in spring which damaged crops in the region substantially.

Russia’s wheat prices continue to rise; September exports could set a new record

Last week, 12.5% Russia’s wheat prices in deep-sea ports rose sharply, by $8, to $222/mt. The market was supported by strong demand from importers. Russian wheat starts to lose its competitive edge after the recent rally.

Russian wheat prices below $200 again, big crop is getting bigger?

Last week, Russia’s 12.5% wheat prices in deep-sea ports fell $1 to $199/mt. The market remains under harvest pressure in Russia, weaker ruble also helps.

Russia’s wheat export estimate cut on weak pace, endings stocks are still the lowest since 2007/08

* Wheat exports forecast is down again
* Ending stocks are estimated at 6.6 MMT, the lowest since 2007/08