Purchase prices for wheat in Ukraine accelerated the decline, despite a shortage of offers from farmers

As the harvest in Australia and Argentina increases, pressure increases on global wheat prices, especially Black Sea wheat, which is the most expensive on the market. Falling demand for it lowers wheat prices in Ukraine and Russia.

In Ukraine, purchase prices for food wheat in ports from a record 10200-10400 UAH/ton fell to 9500-9650 UAH/ton or 305-310 $/ton, despite the shortage of offers from farmers who plan sales for the spring.

In Australia, dry weather has accelerated the harvesting of wheat, which has already been threshed on 65-70% of the area. Despite the record level of yields, traders are concerned about the question of what will be the share of food and feed wheat.

Wheat prices on world stock exchanges, which fell after the release of the USDA report, rose slightly yesterday, supported by dry weather in the United States and news about China’s purchase of a new batch of French wheat.

• March Black Sea wheat futures on the Chicago Stock Exchange after falling in two weeks by два 16-18/ton on Friday rose by п’ятницю 2.5/ton to 3 340.5/ton, recovering in two days by.4/ton.

Weekly wheat exports from the United States remained at 245 thousand tons, while total exports of the season reached 11.394 million tons, which is 17% lower than last year’s pace. The forecast for wheat exports from the United States was lowered from 23.4 to 22.86 million tons compared to 27 million tons in the 2020/21 season.

March futures on US stock exchanges rose:

• by 1 1.29 / ton to Чикаго 289.8/ton for soft winter SRW wheat in Chicago,
• by 2 2.57/ton to.298.5 / ton for hard winter HRW wheat in Kansas City.

But hard spring HRS wheat in Minneapolis fell by 1 1.29/ton to 3 374.1/ton.

Traders received information about China’s purchase of 400-600 thousand tons of French wheat with shipment in January – March, while last week the market was supported by data on the purchase of large quantities of Australian wheat.

Experts estimate the volume of French wheat exports to China in 2021/22 MG at 2 million tons, which will exceed the figure of the last two seasons.

• March European wheat futures on Paris ‘ Euronext rose 2.75 €/T yesterday to 286.25 €/t or 3 322.8/t, almost winning back in two days of Thursday’s fall.

According to the Russian agencies Icarus, SovEcon and Rusagrotrans, prices for Russian wheat with protein of 12.5% and delivery in December – January fell by 2 2-3/ton to F 334-338/ton FOB and will continue to decline in the future, as French wheat is now offered at. 326/ton.

Graintrade

Tags: China, price, Black Sea region, wheat, USA, Australia, Ukraine, Russia