Russia. Market remained flat last week with prices mostly indicative

11.01.2019

Prices in the Russian wheat market closed the first week of 2019 with no substantial changes. The market remains actually flat during the holiday period; prices are mostly indicative, reports UkrAgroConsult.

Other world wheat exporters are gradually resuming their trading activities, and available foreign demand is shifting from Russian wheat to other origins. As a rule, trading activity in the Russian market resumes no sooner than the latter half of January.

According to preliminary data of market participants, Russian wheat exports in the first half of MY 2018/19 (July-December) were up 12% year-on-year. That is a record high for this period.

As a reminder, according to preliminary data of the Russian State Statistics Service, the 2018 wheat crop exceeded 72 MMT in net weight – this may add to Russia’s export availabilities. However, it should also be taken into account that the final 2017 crop figures were lower than preliminary ones – this is possible in 2018 as well.

Noteworthy, Russian government is planning to subsidize grain deliveries from some regions (Krasnoyarsk, Altai, Orenburg, Kurgan, Novosibirsk, Omsk, Kemerovo, Tyumen regions) from February 1 to September 1, 2019.

More information on tenders is available to subscribers for weekly market report "Black Sea Grain" by UkrAgroConsult. Analytical report "Black Sea Grain" contains detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea region.

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UkrAgroConsult

 

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