Russian grain markets are preparing to receive first shipments of new harvest grain, while the supply of grain from the 2003 harvest has petered out, traders say.
The harvesting of winter barley has started in the southern parts of the Krasnodar region. The initial yields are around 4.2 tonnes per hectare, which is higher than at the same time last year, but lower than the average in the last few years.
Traders also expect higher initial yields of winter wheat, the harvesting of which will start in about two weeks time.
Sellers offer first shipments of barley at 2,000-2,500 roubles per tonne (EXW North Caucasus), while large buyers offer 1,800-2,200 roubles per tonne (EXW North Caucasus or southern Volga).
Market participants expect starting offer prices for feed wheat in southern Russia to be in the range of 2,400-3,000 roubles per tonne (EXW).
Starting offer prices (EXW) for third class food wheat are expected in the range of 3,000-3,600 roubles per tonne in most regions of European Russia.
However, traders expect prices for new harvest wheat to rise due to government plans to buy third class wheat at 4,000 roubles per tonne at intervention tenders.
Wheat flour prices experience a slow seasonal decline.
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