Ukrainian wheat prices continue rising


Upward price trends persisted in the Ukrainian grain market this past week. On average, wheat export price closed it up another $1-2/MT FOB for February-March delivery. Some revival is reported in the wheat market trade in Ukraine. As before, prices are supported by steady foreign demand against the backdrop of dwindling supply of Black Sea wheat, reports UkrAgroConsult.

According to preliminary information of market participants, Ukraine has exported 70% of wheat from the volume agreed under the Memorandum. 12 MMT of wheat was exported in the same period last year.

In the domestic market, purchase prices for both milling and feed wheats continued rising, too. On average, domestic wheat prices closed the week up another UAH 50/MT. Shrinking wheat inventories in the country will continue underpinning prices in the near term.

More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Grain" by UkrAgroConsult.

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