Prices for new season Russian wheat rise

Prices for new season Russian wheat rose $5 last week to about $260 per tonne for the crop with 11.5 percent protein content and to $265 per tonne for 12.5 percent protein content in the country's main Black Sea port, a leading analyst said on Monday.
Russian feed barley prices are firming up in the neighbourhood of $255 per tonne in deep water ports, it added. SovEcon agricultural analysts saw new season prices for barley in Russia's North Caucasus at 5,800-6,300 roubles ($170-$190) per tonne and for feed wheat at 6,300-6,600 roubles ($190-$200) per tonne, but there are no deals at these prices yet.
IKAR raised its 2011/12 Russia's grain export forecast to 27.5 million tonnes after the country exported 27.15 million tonnes of grains including legumes as of middle of June. Government estimate stood at 27 million tonnes. Last week SovEcon lowered its 2012/13 grain harvest forecast by 4.5 percent to 85 million tonnes and said the outlook could be reduced further due to falling yields.
On Monday Chicago front-month wheat gained more than 2 percent to a one-month high, tracking gains in corn and buoyed by dryness hurting yields in the Black Sea region. Meanwhile rains and lower temperatures normalised conditions for Russia's spring wheat after a fresh heatwave in its grain growing regions, where harsh spring weather has taken a toll on the upcoming harvest, the state crop weather forecaster said on Monday.
As to sunseeds, the price index fell to 13,975 roubles per tonne last week from 14,025 roubles, but in dollar terms it decreased to $425, down $5, IKAR said. SovEcon pegged it at 14,900 roubles per tonne, down 100 roubles. Crude sunoil prices strengthened 35,620 roubles per tonne from 35,300 roubles, or $1,082 per tonne from $1,084 due to tight supply volumes, IKAR said. SovEcon said it rose to 36,175 roubles per tonne, up 375 roubles, while export prices stood at $1,080-1,090 per tonnes FOB the Black Sea port of Novorossiisk. Domestic white sugar has slightly strengthened in roubles and reached 25,800 roubles per tonne, up 200 roubles, but declined in dollars to $784 per tonne from $786, according to IKAR.