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Friday, 1 December 2017

Important Report Steady Russian prices end slow week

Russian prices have held at the end of the week, ending Friday almost exactly where they started the week with little in the way of fundamental change to the export market.

Falling only $0.25 over the course of the week, Census assessed at $191.50/mt FOB Novorossiysk, reflecting limited spot activity as state-led buying at tender has dominated the global market this week.

Grain loadings on Russia’s railways system reached 19.6 million mt in the year to November, 15.7% higher than last year, according to data published by Russian Railways showed Friday.

And while they are getting more wheat to ports, which have been feeling the strain of demand, freight rates for shallow water vessels started to come off this week – down $1-$2/mt on all routes across the Black Sea and Eastern Mediterranean.

Meanwhile, analytical agency IKAR put exports from Russian Black Sea ports during November at 2.57 million mt – the highest monthly figures on record, edging out the previous which was set back in August this year.

Heavy rain was reported in south and eastern Australia, with flooding and localised damage expected from some of the worst rain in decades.

The wheat crop in Southern Australia has only been collected on 50% of the planted area, while in Victoria the number is as low as 30%.

While there had been no evidence of upwards price pressure in the west of the country, the Census assessment of APW FOB Western Australia was adjusted upward by $0.25 to $225.25/mt, reflecting a likely tightening of export supply and a stronger AUD against the dollar over the course of the day.

Price Assessments 1 Dec 2017
USD $/mtspot+/-Dec+/-Jan+/-
FOB W. Aus APW 10.5%225.25+0.25224.000.00226.50+0.50
FOB Russia 12.5%191.500.00191.250.00191.750.00
FOB Ukraine 10.5%179.250.00179.500.00179.000.00
CIF Tarragona 11%200.250.00N/AN/AN/AN/A
FOB Argentina 12%176.500.00176.000.00177.000.00
FOB US Gulf HRW 11%197.00+2.50196.00+3.00198.00+2.00
FOB US PNW SW 10%199.00-1.00198.00-1.00200.00-1.00
CIF Korea186.250.00185.750.00186.75+0.25
FOB Ukraine162.50+0.25161.000.00163.50+0.25
CIF NW Europe181.50+0.25N/AN/AN/AN/A
FOB Argentina158.75+1.75156.00+0.50160.25+2.25
FOB Brazil163.25+1.25163.25+1.00163.50+1.50
FOB US Gulf158.25+1.00160.75+4.75160.75+4.75
CIF China 422.50+2.00N/AN/AN/AN/A
CIF A.R.409.00+2.00N/AN/AN/AN/A
FOB Brazil389.50+2.50390.50+2.50388.75+2.50
FOB Argentina389.50+3.50390.50+3.50388.75+3.50
FOB US Gulf382.50+2.00382.00+2.00383.25+2.00

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Pankaj Patel   Whats app:  

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