Ukrainian wheat market: interest switching to 2017-crop
The market of old-crop wheat is drawing to an end of the season and importer demand keeps lowering. At the same time, Ukrainian large export-oriented companies still maintained wheat prices at a high level. However, prices of actual deals were already a few dollars below trader bids.
Last week the market of new-crop wheat was already picking up steam and market participants were systematically switching to operation with the future crop. A surge was reported in contracting of 2017-crop wheat that entailed some growth of forward prices for the new crop, reports UkrAgroConsult.
Noteworthy is that the global trends for the 2017/18 season prop up wheat prices, too. They include a reduction of wheat plantings in the USA and Canada and a consequently expected drop in the world’s production.
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