Wheat prices have decreased in Ukraine
Wheat export prices in Ukraine dropped to \$226–230/ton due to lower international tender rates and favorable weather improving crop outlooks. Analysts raised harvest forecasts, further pressuring prices. Food wheat fell \$2–4/ton, and feed wheat declined \$4–5/ton. Some traders paused purchases, awaiting new harvest contracts, which also show lower prices at \$215–219/ton for food wheat.
During the week, export prices for wheat in Ukraine have decreased to 226-230 USD/ton against the backdrop of low prices for this crop of the new harvest at international tenders, agronews.ua reports.
Indeed, rainy weather in Ukraine and neighboring regions contributes to the improvement of winter crops. This forced analysts to raise crop forecasts, which further pushes prices down, with European wheat continuing to become cheaper.
In Ukraine, during the week, export purchase prices for food wheat decreased by another 2-4 USD/ton to 226-230 USD/ton (or 10700-10900 UAH/ton), and for feed wheat – by 4-5 USD/ton to 210-215 USD/ton (or 10000-10100 UAH/ton) with delivery to the Black Sea ports.
Some traders have temporarily suspended purchases, awaiting the start of contracts for the new harvest, the prices of which also remain lower (215-219 USD/ton for food wheat and 205-207 USD/ton for feed wheat).
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Source : Agro News UA
