Last week, export prices for wheat fell 12.5% to $ 218 per tonne (FOB), SovEcon reported. At the beginning of August, the average price reached $ 231.5 / ton.
The downward trend remains in force. USDA in the monthly report raised the forecast of world wheat harvest from 729.6 to 733M tons, carryover stocks - from 259 to 261.3M tons. The forecast of the harvest in Russia has been revised from 68 to 71M tons due to higher yields of winter wheat and an increase in the estimate of the harvested area by 0.5M hectares to 26M hectares. USDA is still optimistic about the prospects for the harvest of Russian spring wheat.
Given the slow pace of harvesting and inclement weather in Siberia, Russian experts are not ready to agree with American analysts, the latest forecast of Russian experts is 69M tons. As of September 14, 829K hectares of wheat were harvested in Siberia, which is 74% lower than the figures for a year ago.
Average prices in the European part of Russia for wheat of the 3rd class increased by 125RUR ($ 1.88) up to 11025RUR / ton ($ 166.25), 4th classes - for 75RUR ($ 1.13) up to 10850RUR / ton ($ 163.61), 5th classes - for 50RUR ($ 0.75) up to 9050RUR / ton ($ 136.47). Barley and corn rose by 175RUR ($ 2.64) up to 9475RUR / ton ($ 142.88) and 9675RUR / ton ($ 145.89), respectively.
Source: agroxxi.ru.
