New crop begins to attract increasing attention

UkrAgroConsult

Article author:

Maryna Marynych

Grain Market Analyst

Recent tenders provoked a new price surge in the world market as a whole and in the Black Sea region in particular.

Persistent foreign demand prompted Ukrainian traders to plan their purchases in advance, therefore discussion of new-crop prices has already begun this year. For comparison, forward wheat prices last marketing year began to be posted as late as February.

Apart from growing demand, new-crop prices are also supported by the weather factor – soil moisture in Ukraine is still not enough for optimal crop development. Sparse seedlings are reported in some parts of the southern regions.

UkrAgroConsult will further keep an eye on long-term weather forecasts and winter crop conditions, as weather is still the main factor to determine the 2022 crop’s quality and size.

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UkrAgroConsult

Tags: Ukraine, Egypt, Algeria, prices, wheat, crop condition