Those plans, announced last week, have fuelled market speculation that Russia, the world's largest wheat exporter, could limit grain exports later in the 2018/19 season to keep a lid on domestic prices. Black Sea prices for Russian wheat with 12.5 percent protein content and for delivery in February were $243 a tonne free on board (FOB) at the end of last week, up $5 from a week earlier, Russian agricultural consultancy IKAR said in a note.
SovEcon, another Moscow-based consultancy, quoted FOB wheat up $2 at $240.5 a tonne and barley steady at $236 a tonne. Russia exported 29.4 million tonnes of grain from the start of the season on July 1 to Jan. 10, up 4.3 percent year on year, the agriculture ministry said. That included 24.7 million tonnes of wheat, up 12.8 percent.
Domestic prices for third-class wheat were up 50 roubles to 11,550 roubles ($174) a tonne at the end of last week in the European part of Russia on an ex-works basis. Ex-works supply does not include delivery costs.
Sunflower seed prices rose by 200 roubles to 18,900 roubles a tonne, SovEcon said. Domestic and export sunflower oil prices were steady at 42,675 roubles a tonne and $625 a tonne, respectively. IKAR said its white sugar price index for southern Russia was $552.4 a tonne at Jan. 18, up $0.50 from a week earlier.