International markets situation weighs down on corn and wheat prices in Ukraine - 18.01.2022
International markets situation weighs down on corn and wheat prices in Ukraine
18 January 2022
On the Ukrainian grains market, corn prices weakened further without support from Chicago and as a result of an average lineup, Barva Invest analystssay.
"There was no update on the quotations because the US stock exchanges were closed for a federal holiday yesterday. The market is still focused on the weather in South America, which has received some precipitation. However, the amount indicated in the weather forecasts cannot significantly ease the situation after the prolonged dry spell of the last few weeks,"commented the analysts.
According to experts, prices in the Ukrainian wheat market have continued to fall under the pressure of international markets.
Unsupported by Chicago, the March European wheat futures rose by EUR 2.25 a ton after the news about the emergence oftender activity on the importers'side.
Wheat exports from Russia have reached 22.7 mlnt since the start of the 2021/22 season, 18% behind lastyear. Japan plans to buy 74,000 to feed wheat in a tender.
Previously reported that wheat prices in Ukraine and Russia were going down a midweak demand.
The USD Ainits January report left unalteredits projections for wheat production and export from Ukraine in 2021/22.
Wheat export from Ukraine in 2021/22 was limited to 25.3 mln t. The Memorandum of Understanding was signed by the Agrarian Ministry and grain market participants. The Government also considers milling wheat export from the country. The decisionis reported to be taken in January.