Wheat prices in Ukraine continue to rise, but stock market quotes have decreased during the week

Favorable precipitation last week calmed wheat markets somewhat, so stock market quotes decreased by 0.4-3.2%, but demand prices for Ukrainian wheat continued to grow as it became the cheapest on the world market.

The U.S. stock market was closed on Monday for Memorial Day, so crop reports will be released today. But last week, the U.S. wheat growing regions, especially winter wheat, received good rainfall, which could improve crop conditions.

July wheat futures fell for the week:

• by 2.8% to $237.5/t – for soft winter SRW wheat in Chicago,
• by 3.2% to $250.6/t – for durum HRW wheat in Kansas City,
• by 1.9% to $253.7/t – for spring HRS wheat in Minneapolis,
• by 0.4% to 212.5 €/t or 256.8 $/t – September wheat futures on Euronext in Paris.

Prices are being pressured by news of improved wheat crop conditions in France , a reduction in wheat export duties in Argentina from 7.5% to 5.5% , and rainfall in the Black Sea region.

The increase in prices for American and European wheat to the levels of $245-250/t FOB makes prices for Ukrainian wheat the lowest on the world market, as prices for Russian wheat have also increased to $242-244/t FOB, and for Argentine wheat – to $235-245/t FOB, while Ukrainian wheat with 11.5-12.5% protein is offered at $235-240/t FOB.

Cool and rainy weather in Ukraine is helping crops grow and improving harvest prospects, but prices for the new wheat crop have leveled off with the old crop.

Over the past week, export purchase prices for wheat in Ukraine increased by 50-100 UAH/t to 11,200-11,300 UAH/t or 224-227 $/t for food wheat and to 11,000-11,100 UAH/t or 219-220 $/t for feed wheat with delivery to Black Sea ports. At the same time, a decrease in the discount for feed wheat is noted.

Wheat exports from Ukraine for May 1-25 amounted to 951 thousand tons (compared to 900 thousand tons in May 2025), and in total in the 2025/26 MY reached 12.27 million tons, which is 21% lower than last year’s pace (14.8 million tons). The main buyers in May were: Egypt – 331.1 thousand tons, Algeria – 240 thousand tons, Yemen – 107 thousand tons, Tunisia – 40.1 thousand tons, Spain – 31.5 thousand tons, Greece – 23.9 thousand tons, Lebanon – 21.2 thousand tons.

Abundant rainfall in the winter wheat growing area in Russia continues to improve harvest potential, and forecasts for the Russian Federation exceed last year’s, so Ukrainian wheat will again compete with Russian wheat for North African markets in the new season.

Tags: Ukraine, prices, wheat