Russian grain export prices were stable last week, while a stronger rouble resulted in a slight increase in dollar-denominated prices within the domestic market, agricultural analysts said on Monday. Ordinary wheat forward export prices were around $160 per tonne, free on board Novorossiisk, and barley remained stable at $125-130 per tonne, the Institute for Agricultural Market Studies (IKAR) said.
"Domestic internal dollar prices have slightly strengthened, mainly due to weakened dollar values, as well as due to the fact the domestic wheat market is very weak and producers are keeping the nominal rouble prices," IKAR said. Exporters kept prices for fourth-grade wheat at 4,200-4,500 roubles ($139.7-$149.7) per tonne, CPT Novorossiisk, analyst group SovEcon said. At shallow-water ports, prices fell to 3,800-4,300 roubles per tonne from 4,000-4,200 a week earlier.
In European Russia, rising supplies from the new crop and relatively low demand kept a lid on prices, SovEcon said. SovEcon said fourth-grade wheat prices fell by 75 roubles to 3,600 roubles per tonne in this part of the country, while feed wheat declined by 125 roubles to 2,375 roubles per tonne.
In Siberia, third-grade milling wheat prices fell by 500 roubles to 3,800-4,300 roubles per tonne, close to the European part of Russia, it said. IKAR said domestic prices for third-grade wheat rose by $6 to $141 per tonne, fourth-grade by $3 to $119 per tonne and feed wheat by $1 to $96 per tonne.
Feed barley declined by $7 to $76 per tonne, while maize was unchanged at $126 per tonne, IKAR said. New-crop sunseed prices have increased to $325-330 per tonne in comparison with $310-325 a week earlier, IKAR said. SovEcon said prices had risen by about 100 roubles to 10,350 roubles per tonne, as crushers continued raising bid prices on fears that the new crop may be lower than expected. Crude sunoil prices declined, both SovEcon and IKAR said. Dollar-denominated white sugar prices fell to $758 per tonne from $773 per tonne a week ago on rising domestic beet sugar supply, IKAR said, adding it expected a further price decline.