Russian wheat export prices fall as September shipment outlook improves
Russian wheat export prices fell last week in line with global markets, and analysts are revising their estimates for shipments from Russia in September upwards, although they remain at multi-year lows.
MOSCOW, Sept 21 (Reuters) — Russian wheat export prices fell last week in line with global markets, and analysts are revising their estimates for shipments from Russia in September upwards, although they remain at multi-year lows. 5% protein content shipped from the Russian ports of Vysotsk and Ust-Luga were at $268 per metric ton for delivery in November FOB by the end of last week, down $6 from the previous week. Most shipments are now being redirected to those two terminals, as southern Russian ports remain closed. Shipments via ports in the Azov-Black Sea basin came to a standstill from mid-August due to attacks on vessels and damage to terminals.
"The market continues to ignore the Black Sea supply shock, but this cannot last indefinitely," Andrey Sizov, head of the SovEcon consultancy, said. 0 million tons of wheat in September. 8 million tons a week earlier. 7 million tons, driven by an increase in export volumes to a number of destinations.
1 million tons of wheat were exported in the first half of the month. 9 million tons. This may turn out to be the lowest quarterly figure since the 2010/11 season. According to the Russian Ministry of Agriculture, as of September 18, 120 million tons of grain have been harvested, including more than 90 million tons of wheat, with yields higher than in the previous year.
Of more than 19 million hectares of winter crops, as of September 18 sowing had been completed on almost 6 million hectares. com)