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Russian export prices for wheat remained flat last week as shippings were slow after delayed harvesting and a state wheat export tax launched on July 1, analysts said on Monday. Russia has exported 2.3 million tonnes of grains, including 1.4 million tonnes of wheat, since the start of the 2015/16 marketing year on July 1. The pace of grain exports is down 40 percent year-on-year, the agriculture ministry said in a note.
Black Sea forward prices for Russian wheat with 12.5 percent protein content were flat at $188 per tonne on a free-on-board (FOB) basis at the end of last week, the IKAR consultancy said.
SovEcon agriculture consultancy also quoted FOB prices at $188 per tonne, but down $4.5 from a week earlier. FOB barley prices were down $4 at $178 per tonne, it added.
Domestic prices for third-class wheat were up 50 roubles compared with a week earlier at 9,350 roubles ($146) per tonne in the European part of Russia on an ex-works basis, SovEcon said.
IKAR said the FOB Black Sea forward corn (maize) price index fell $13 to $170 per tonne despite dry weather in Russia's southern regions.
IKAR has lowered its 2015 corn production forecast to 11.5-12.5 million tonnes from a previously expected 12-13 million tonnes.

Copyright Reuters, 2015

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