Lack of active demand and significant surpluses limit the potential for recovery in Ukrainian wheat prices
The Black Sea region wheat market remains highly competitive – Russian products hold their positions, while Ukrainian products attract with lower prices.
However, significant remnants of the old harvest and the lack of active demand limit the potential for price recovery in the short term. This is reported by analysts at Spike Brokers.
Thus, export prices (CPT Odesa) have significantly decreased over the week:
- milling wheat has fallen to $219/t (-$3);
- feed wheat has adjusted to $215/t (-$1).
Meanwhile, FOB positions are maintained at around $233-235/t.
Export geography is concentrated in certain directions: since the beginning of April, 362 thousand tons of wheat have been shipped, of which the main volumes fall on Egypt (170 thousand tons), Spain (78 thousand tons), Djibouti and Algeria.
For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.
It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.
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