At the end of the week, wheat prices, after rising sharply in recent days, showed a slight decline amid improved weather for wheat crops in the United States.
This was reported by Barva Invest analysts on their Telegram channel.
It is noted that the futures on US wheat fell by $0.17 per bushel. The price of European wheat fell by €2/t and the price of Black Sea wheat fell by $1/t.
"The price range on the domestic market in Ukraine remained unchanged, but sales remain very difficult due to logistical problems and a limited number of buyers," commented traders.
Prices for wheat with delivery on May (dating on April, 15th) on global exchanges were as follows:
- Chicago Exchange - $10.96 per bushel;
- Euronext exchange - €401 per t;
- Black Sea benchmark - $389.75 t;
- Domestic market (CPT 11.5%) - UAH 6000-7400/t.
According to experts, corn prices continue to grow as a result of active export demand for American corn and good prospects for biofuel market.
It adds that the US corn price rose by $0.11 per bushel, while the Black Sea corn price fell by $3 per ton.
"The overload of logistical capacity on the land corridor continues to weigh on prices in the Ukrainian market," reads the statement.
Corn prices for May futures on global exchanges:
- Chicago Exchange - $7.9 per bushel;
- Black Sea basis - $352.25/t;
- on the SPOT, Izov (DAT) basis - $240/t.