Russian wheat export prices rose to their highest since August last week, tracking rising global prices and as shipments from ports picked up pace as the weather improved, analysts said.
The price of Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in April was $238 a metric ton at the end of last week, up $2.0 from a week earlier, Dmitry Rylko, head of the IKAR consultancy, said.
Sovecon estimated the price for Russian wheat with 12.5% protein at $238 to $240 a ton FOB, compared with $234 to $236 the previous week.
"Russian FOB prices hit their highest since August 2025, when they reached $240 a metric ton. The rise was supported by stronger global futures and firmer export quotes from key competitors. Demand looks strong and shipment pace is accelerating," Andrey Sizov, the head of Sovecon said.
Sovecon estimated wheat exports at 3.8 million tons in March, while IKAR has raised its estimate to between 4.1 million and 4.4 million tons, up from over 3.5 million tons previously.
Rail carrier Rusagrotrans has estimated wheat exports this month at 3.7 million tons. According to its figures, around 1.2 million tons of wheat were exported during the first ten days of March.
Spring fieldwork has begun in 14 regions of the country, and the pace is ahead of last year’s, said Russian Deputy Prime Minister Dmitry Patrushev last week.
The weather remains largely favourable for the new crop, Sovecon analysts noted.
Other Russian data provided by Sovecon and IKAR:
Product: | Most recent data: | Change from a week earlier |
- Domestic 3rd class wheat, European part of Russia, excludes delivery (Sovecon) | 14,200 rbls/t | +150 rbls/t |
- Sunflower seeds (Sovecon) | 36,575 rbls/t | +200 rbls/t |
- Domestic sunflower oil (Sovecon) | 95,350 rbls/t | +250 rbls/t |
- Domestic soybeans (Sovecon) | 29,400 rbls/t | 0 rbls/t |
- Export sunflower oil (IKAR) | $1,305 | $0/t |
- White sugar, Russia's south (IKAR) | $695.59/t | +$4.96/t |
(Reuters)
