Indicative prices of new-crop Ukrainian wheat growing faster than those of old-crop grain - 30.05.2022

Indicative prices of new-crop Ukrainian wheat growing faster than those of old-crop grain - 30.05.2022

According to APK-Inform, the indicative prices of Ukrainian wheat continued growing last week.

The prices were supported by lower global production and export amid the absence of normal supply of Black Sea wheat amid the war in Ukraine and sanctions imposed on Russia. Unclear prospects as to the size and quality of the next-crop wheat in the key producing countries amid unfavorable weather pushed the prices up too. Ambiguous Indian export policy supported the prices as well.

The prices of new-crop wheat increased more sizably due to better demand from importers. Many buyers have accumulated stocks sufficient until the next season, so they are not interested in urgent purchases and hope for unblocking of Ukrainian ports. At the same time, on the spot market, the prices were pressured by high carry-over stocks, limited export, soon completion of spring planting campaign and coming harvesting of winter crops as well as the development of the global market.

The indicative offer prices of old-crop 12.5%, 11.5% and feed wheat increased by 5-10 USD/t to 405-425, 400-420 and 360-380 USD/t FOB (June). The indicative offer prices of new-crop 12.5%, 11.5% and feed wheat increased by 20-25 USD/t to 385-410, 380-405 and 350-370 USD/t FOB (July-August).

Source: https://www.apk-inform.com/