March 11, 2011

Russian feed wheat price decreases

Russian feed wheat was reduced by 4% to 7,400 rubles (US$259) a tonne in the Urals area last week, causing drops in grain prices, the country's Grain Union said.

Feed wheat declined in both the North Caucasus and Volga regions by 2.7% to RUB5,950 (US$208) and RUB7,186 (US$251) a tonne respectively, the Union said yesterday (Mar 10). It was reduced by 2.5% to RUB6,367 (US$223) a tonne in West Siberia and was little changed in the Central Russia and Black Earth areas, where it cost RUB7,000 (US$245) and RUB7,038 (US$246) a tonne respectively.

Fourth-grade wheat dropped 3.3% to RUB7,788 (US$272) a tonne in the Urals and to the east of the mountain range. It decreased 2.7% to RUB6,050 (US$212) in North Caucasus, was 2.2% cheaper at RUB6,617 (US$231) in West Siberia and decreased 2% to RUB7,386 (US$258) in the Volga region. It was little changed in the Central Russia and Black Earth areas at RUB7,150 (US$250) and RUB7,300 (US$255) respectively.

Third-grade wheat decreased by the largest margin in the Urals area, by 2.2% to RUB8,175 (US$286) a tonne. It dropped 2% to RUB7,571 (US$265) a tonne in the Volga area, and declined by 1.8% in both Central Russia and West Siberia to RUB7,317 (US$256) and RUB7,250 (US$254) a tonne respectively. Prices did not see much change in the Black Earth and North Caucasus areas at RUB7,538 (US$264) and RUB6,467 (US$226) respectively.