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During the reporting week, from 27.12.24 to 10.01.25, world wheat prices demonstrated a decrease. Market prices for various types of wheat also declined:
- Chicago Board of Trade soft red winter wheat (CBOT, ZW) fell to 530.75 cents/bushel (-2.88%);
- Kansas City Board of Trade hard red winter wheat (KCBT, KE) decreased to 551.75 cents/bushel (-0.50%);
- Minneapolis Grain Exchange hard red spring wheat (MGE, MWE) went down to 584.25 cents/bushel (-1.85%);
On the other hand, the contract for corn on the Chicago Board of Trade (CBOT, ZC) increased to 470.50 cents/bushel (+3.63%). And the price of rice in Chicago (CBOT, ZR) rose to $14.37/cwt (+4.43%).
Russian indicative prices (FOB Black Sea) also changed:
- Wheat dropped to $240.30/ton (-0.17%);
- Barley rose to $206.00/ton (+3.57%);
- Corn increased to $234.10/ton (+1.74%);
Russian wheat index, CPT Novorossiysk, decreased to 18150 rubles/ton (-0.56%).
Domestic purchase prices for 4th class wheat with 12.5% protein at port elevators of the Black and Azov Seas during the reporting period were:
- Azov – 15500 (0) rubles/ton
- Novorossiysk – 18900 (0) rubles/ton
- Rostov-on-Don – 15500 (0) rubles/ton
- Taganrog – 15300 (-300) rubles/ton
- Taman – 17600 (0) rubles/ton
GRAIN MARKET NEWS
• The government extended restrictions on the import of seeds from unfriendly countries until the end of 2025. Restrictions apply to wheat, rye, barley, corn, soybeans, rapeseed, sunflower, and sugar beet seeds. Import quotas for the current year will amount to 18.3 thousand tons.
• Rosselkhoznadzor confirmed the lifting of the ban on wheat imports from Kazakhstan starting from January 1 for third countries and EAEU countries. Restrictive measures introduced from August 21 to December 31, 2024, were lifted. The Ministry of Agriculture of the Republic of Kazakhstan stated that if necessary, new regulatory measures will be taken to prevent imbalances.
• The US Department of Agriculture lowered the forecast for wheat exports from Russia by 1 million tons in the December report. The wheat export forecast now stands at 46 million tons. However, the forecast for wheat production in the current agricultural year remains unchanged at 81.5 million tons.
• The Ministry of Industry and Trade proposes to change the deadlines for the payment of recycling fees for agricultural and special machinery manufacturers. The draft resolution states that the payment deadlines for the recycling fee for the IV quarter of 2024 and I-III quarters of 2025 will be shifted to the end of the year, similar to actions taken in the automotive industry.
• In 2024, grain loading volume through the railway network decreased by 4.6%. The total loading volume amounted to 31.2 million tons.
• The share of third-class wheat compared to the previous year increased to 28.3% (against 24.1% in 2023). The share of fourth-class wheat remained almost unchanged at 48.1% (compared to 48% last year). The share of fifth-class wheat decreased to 23.4% (compared to 27.1%).
• In 2024, Russia exported over 86.7 million tons of grain and its processing, which is 2.8 million tons more than in 2023. This was mainly due to an increase in the export of grain crops, which amounted to 73.1 million tons (+4 million tons compared to 2023).
• New customs duties on wheat and rye will come into effect from January 15, 2025 – they will decrease, while duties on barley and corn, on the contrary, will increase.
