Ukraine. Weather factor continued supporting new grain crop market


Last week, the new-crop grain market was supported by weather factor, reports UkrAgroConsult.

By the end of the week, export prices for Ukrainian new-crop wheat with 11.5% a protein had increased on average USD 1 for delivery in July-August. Prices for new-crop wheat with 12.5% protein remained unchanged. New-crop feed wheat prices closed the week up USD 3/MT.

The prices were supported by concerns of market participants about possible reduction of wheat production both in Ukraine and Black Sea region. Moreover, dry weather in the region may reduce the share of feed wheat in the harvest.

The current forward prices for Ukrainian new-crop wheat are on average USD 24-27/MT higher than on the same date last year.

In the domestic new-crop grain market, a slight increase in buyers’ prices was seen as well. The demand from exporters for new-crop wheat is gradually strengthening, while supply from producers is still limited, as there are concerns about timely availability of sufficient volumes to fulfill the forward contracts.

The old-crop trade is almost over, and wheat stocks in the domestic market are almost exhausted. Demand prices for old-crop wheat continued to decrease and closed the week down another UAH 50-100/MT.

A bearish price trend continued in the corn market last week. Prices were pressured by low import demand amid a strong competition from American corn.

Corn export prices closed the week down USD 1/MT.

Check up prices and enjoy free online charts on UkrAgroConsult’s website. Daily updated commodity exchange prices (CBOT, ASX, BCE, MATIF, WCE, LIFFE) and cash market quotations for wheat, corn, barley, soybean, sunflower and other agricultural commodities in Ukraine, Black Sea region and world are available in section "Prices and Futures".



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