ProZerno reports slower declines in Russian grain prices

Russian domestic grain prices have begun stabilising after a prolonged decline, according to ProZerno. Interfax reported the company's weekly monitoring findings on October 13.

Wheat prices remain mixed. Third-class wheat rose by 310 roubles to 10,790 per tonne in central regions, while falling by 290 roubles to 9,740 in the Volga region. The previous week's decline there was 430 roubles.

Fourth-class wheat recorded its largest gain in central regions, rising by 700 roubles to 9,680 per tonne. In the Volga region it fell by 310 roubles to 8,640. The quoted domestic prices include VAT and refer to ex-warehouse delivery terms.

Feed barley prices mostly recovered. The central-region price rose by 610 roubles to 8,630. Corn mostly weakened, with the southern price falling by 815 roubles to 10,617 per tonne.

The calculated FOB export price for Russian wheat at Novorossiysk fell by $5 to $205 per tonne. At Vysotsk, it rose by $2 to $267.

ProZerno said announced government procurement interventions could support the market. Purchases of up to 3 million tonnes may begin in late October. This remains an expected measure rather than confirmation that procurement has already occurred.