Export prices of Ukrainian wheat are growing again: what’s going on?

Source

APK-Inform

2653

According to APK-Inform, the export prices of Ukrainian wheat are growing, despite multidirectional price corrections.

“At the beginning of the last week, the prices continued declining pressured by low competitiveness, weak demand from importers and downward price trend on the Russian market. However, they started growing again soon due to high purchasing prices in Ukrainian ports amid reserved farmers’ selling and delays in transportation of wheat to ports. Besides, concerns regarding conditions of winter wheat in the USA and Black Sea pushed the price up on the global market that supported Ukrainian prices”, - the head of the local markets department of APK-Inform, Anna Tanskaya explained.

The offer price of 12.5% wheat and feed wheat increased to 281-285 and 277-279 USD/t FOB deep-sea ports correspondingly as of the end of the last week. The average bid prices of 2-grade and feed wheat increased by 150-200 UAH/t to 9050 and 8900 UAH/t CPT-port or by 4-5 USD/t to 271 and 268 USD/t CPT-port.

“At the same time, better weather in the USA and Black Sea, mass export from Russia and expected strengthening of competition on the global market amid record crop in Australia this MY and forecasted extension of planted area under US wheat the next season continue weighting on the Ukrainian wheat market”, - the expert summarized.

More detailed information about the development of Ukrainian wheat market you can find at our website in the section “Market”.

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