Amid frost in the United States wheat prices rose by 2-4.9%, which will support prices in Ukraine

Low temperatures and lack of snow cover in most of the U.S. plains probably caused damage to winter wheat crops. Over the past 3 days, the frosts in the United States reached -20…-22 ° C, while the snow cover in the South-Western regions was not, which could adversely affect the crops. Although the frosts were short-lived, the quotes reacted to them by increasing by 3.6-4.9%, although overall for the week prices rose by only 2-2.5%.

March wheat futures rose yesterday:

• by 3.7% to 205.3 $/t – for soft winter SRW wheat in Chicago (+2.3% for the week),
• by 4.9% to 211.5 $/t – for hard winter HRW wheat in Kansas City (+2.7%),
• by 3.6% to 222.1 $/t – for hard spring HRS wheat in Minneapolis (+2.5%).
• by 2% to 231,25 €/t or 240,9 $/t – for wheat on the Paris Euronext (0%).

Exports of wheat from the United States for 10-16 January decreased compared to the previous week by 12.5% to 261,8 thousand tons, and in General in the season reached 13,279 million tons, which is 23.8% ahead of last year’s pace.

Exports of wheat from the EU (as of January 19) amounted to 11.74 million tons, which is 36.5% less than last year.

The new Egyptian agency Mostakbal Misr has purchased a significant amount of Russian wheat for delivery in January-February, but there is no open information on prices and volumes.

Amid declining export demand, wheat exports from Russia in January may amount to 2.4 million tons, which is 1.7 times lower than exports in January 2024 (4.08 million tons) and will be the lowest since January 2022, when it was exported 1.9 million tons.

In Ukraine, amid rising world wheat prices and limited supply from producers, export demand prices for milling wheat increased by 100-150 UAH/t to 10400-10600 UAH/t or 218-223 USD/t, and for feed wheat – by 100-150 UAH/t to 9900-10200 UAH/t or 209-211 USD/t with delivery to the Black Sea ports.

Tags: prices, wheat