New crop wheat in Ukraine continues to actively decrease in price

The Ukrainian wheat market continues to be under pressure from the new crop, while prices continue to decline. This was reported by analysts at White Brokers.

At the end of the week, prices on DAP-port terms decreased to $221/t for grade 2 wheat, $220/t for grade 3 wheat, and $212/t for grade 4 wheat.

White Brokers notes that such dynamics are typical for the period before the start of the harvest, when the market is laying the foundation for a future increase in supply.

At the same time, prices for new crop wheat continue to fall. Current indicative levels on DAP-port terms are about $219/t for grade 2 wheat, $218/t for grade 3 wheat, and $210/t for grade 4 wheat.

Despite the price pressure, some farmers continue to hold on to transitional surpluses and are in no hurry to sell at current prices. At the same time, there are currently no significant factors for market recovery.

White Brokers notes that adverse weather during harvest could potentially support prices, but it is currently difficult to assess the likelihood of such a scenario.

Tags: prices, wheat