MOSCOW, July 1 (Reuters) - Russian wheat export prices have declined for the fourth week in a row, tracking global markets amid good news about the new harvest. The price of 12.5% protein Russian new crop wheat scheduled free-on-board (FOB) with delivery in late July was $226 per metric ton at the end of last week, $5 lower than the price a week earlier, according to the IKAR consultancy. Sovecon determined the price of wheat with a protein content of 12.5% with the nearest delivery at $227-229 a ton at the end of last week, down from $234-$236 a ton FOB. Last week's Egyptian GASC tender also showed a significant decrease in the bid price for Russian wheat. For the first time after several tenders, GASC bought 180,000 tons of wheat from Russia at $227 per ton FOB for delivery in late August/early September. "The free competition among Russian suppliers was of interest. For many tenders, the Russian AgMin has been manually setting prices, often leading to limited sales. This could be a temporary measure aimed at pleasing GASC ... Alternatively, it could be a longer-term policy aimed at helping exports amid the Turkish ban," Sovecon said in a weekly note. Turkey has imposed a ban on wheat imports from 21 June to mid-October this year to protect Turkish farmers from lower prices and other negative effects during the new harvest. The price floor has been implemented by Russia since last year in an effort to slow Russian wheat exports and cool domestic flour and bread prices. Russia is the world's largest wheat exporter. Its exports decreased to 0.79 million tons of grain last week from 0.83 million in the previous week. Exports included 0.68 million tons of wheat, down from 0.77 million tons a week earlier, Sovecon wrote, citing port data. Sovecon kept unchanged its wheat exports export forecast in June - a record 4.0 million tons for this month, compared to 3.6 million tons in June 2023. Last week Sovecon cut its 2024/25 Russian wheat export forecast to 46.1 million tons from 47.8 million tons, reflecting a smaller expected crop. For the 2023/24 season, which closed at end-June, wheat exports are estimated at 52.2 million tons. Sovecon said it expects the current year's overall grain harvest to be 127.4 million tons, well down on the previous season's 144.9 million tons. Russia has almost completed its sowing campaign and started harvesting the new crop in the southern regions of the country. "Russian southern regions continue to report relatively high yields. Krasnodar and Stavropol yields remain noticeably above the previous year, which is surprising, especially for the latter. Rostov yields are substantially below last year, but this aligns with our expectations", Sovecon noted. The Ministry of Agriculture reported on June 26 that harvesting has started in 16 regions. Despite difficult weather conditions, initial results exceed last year's and 6.2 million tonnes of grain have been threshed. As of June 21, farmers had seeded 28.5 million hectares of grains, compared to 30.5 million hectares in the same period in 2023. That included 12.6 million hectares of spring wheat, compared to 13.8 million last year, Sovecon wrote. Weather is neutral for the new crop, the agency said. The hot weather may have a negative impact on spring wheat yields in the Centre and Volga region, IKAR head Dmitry Rylko said. But the agency maintains the existing crop forecasts. Other Russian data provided by Sovecon and IKAR: Product: Most recent data: Change from a week earlier - Domestic 3rd class 14,450 rbls/t +100 rbls/t wheat, European part of Russia, excludes delivery (Sovecon) - Sunflower seeds 31,775 rbls/t -250 rbls/t (Sovecon) - Domestic sunflower 76,850 rbls/t 0 rbls/t oil (Sovecon) - Domestic soybeans 40,000 rbls/t -125 rbls/t (Sovecon) - Export sunflower $910/t -$10 oil (IKAR) - White sugar, $729.76/t +$3.93/t Russia's south (IKAR) (Reporting by Olga Popova; Editing by David Evans)
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