Russian grain prices changed little last week, as prices for different cereals moved in opposite directions and analysts were divided on Monday about their movement. SovEcon agricultural analysts estimated Russian wheat prices with 11.5 percent protein content were at $190-$197 per tonne FOB Novorossisk, unchanged from a week before.
The Institute of Agricultural Market Studies (IKAR) said ordinary wheat forward prices with bug damage of 1 percent declined to an estimated $194 per tonne from $199 per tonne, following international prices. Wheat with bug damage of 1.5 percent was little changed at $187 per tonne, compared to $187-$189 a week before, it said in a weekly note.
SovEcon said that bid prices for fourth-grade wheat including delivery to Novorossiisk rose by 50-100 roubles ($1.66-$3.31) to 5,050-5,150 per tonne, while at shallow ports prices were 4,500- 4,600 roubles, same as a week before. Traders sought higher quality third-grade wheat for 5,250-5,300 roubles per tonne CPT Novorossiisk, it said.
In European Russia prices added 75 roubles on the average, SovEcon said. Third-grade wheat rose to 4,175 roubles per tonne, fifth-grade feed wheat to 2,975 roubles and maize to 4,475 roubles. The change was due mostly to a weakening of the rouble national currency, SovEcon said. In the south of the country most prices were rather stable, although producers started offering more grain for sale in order to repay loans, it said.
Wheat prices in the south of Russia have slightly declined as there was a delay in vessels' arrival in Novorossiisk and one grain terminal suspended accepting wheat and another temporarily switched to loading feed barley, IKAR said. Current IKAR price indexes for southern Russia are fixed at $151 per tonne for third-grade wheat, down $2 on a week before, fourth-grade wheat was unchanged at $143 per tonne, feed wheat and feed barley rose by $2 per tonne to $119 and $98 per tonne respectively, while maize rose by $4 to $140 per tonne.
Reports that the government plans to sell grain from its intervention stocks at a starting price of $4,200 (about $140) per tonne have stopped a rise in maize prices in the Central Black Soil region, IKAR said. Stabilisation of international vegetable oils prices have slowed down Russian sunoil prices, which rose by just $10 to $910 per tonne last week, IKAR said. Sunseed purchase prices have increased to $401 per tonne from $390 a week before.
Average sunseed offer prices rose by some 600 roubles per tonne to 11,675 roubles, and crude sunoil by 1,500 roubles to 28,175 roubles per tonne, it said. SovEcon said producers were becoming more eager to sell sunseeds as prices were approaching 12,000 roubles per tonne, but the potential for further rise was close to exhaustion. Sugar prices have risen slightly in rouble terms to 24.6 roubles per kg from 24.0 roubles a week before, but they declined in dollars to $803 from $820 per tonne, IKAR said.
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