Wheat prices in Ukraine have remained unchanged for three weeks in a row.
Wheat prices have stayed unchanged for three weeks after earlier summer gains faded. Milling wheat holds at $221/t and feed wheat at $208/t. Exports since July total 6.2 million tons, down from 7.7 million last year, as slower shipment demand and higher domestic supply keep the market steady and subdued.
The wheat market is in a lethargic slumber – prices have remained unchanged for three weeks straight, according to analysts at Spike Brokers.
“After a summer rally caused by a delayed harvest, when prices for milling wheat reached $235 and feed wheat was trading at $230, prices have fallen by $15-20 and have remained stable for two months in a row,” the brokers explained.
Since July, wheat exports have reached 6.2 million tons, compared to 7.7 million tons for the same period last year. The market is gradually seeing the effects of lagging export shipments amid growing domestic supply.
Thus, the spot price index for milling wheat (11.5% protein) for delivery within 30 days remained unchanged from last week at $221/t. The feed wheat index also remained unchanged at $208/t.
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Source : Ukr Agro Consult
