Ukraine. Farmers speed up wheat sales at peak prices before new harvest
The approach of the new harvest puts pressure on traders who hold long positions. This also affects prices, as the growing supply forces traders to sell more actively and fix the sale of stocks on the foreign market. This is reported by Spike Brokers.
At the same time, Ukrainian farmers have accelerated the sale of wheat stocks, taking the current price levels as the maximum before the new harvest, which is traded at a significant discount to the current one.
In turn, the new crop wheat is becoming more and more interesting, as a result of which the spread between the old and new crop continues to narrow. In the ports of Odesa, 11.5% wheat was traded at 212-214 USD/t on DAP, feed wheat – 202-204 USD/t DAP.
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