Wheat prices may increase in the second half of November
In October, Ukraine exported about 1.5 million tons of wheat, and in the first three days of November – 67 thousand tons. The pace of shipments remains stable, the market is moving in accordance with seasonal expectations. This was reported by the analytical department of the agricultural cooperative PUSK, created within the VAR.
“Everything is stable on the world market now – most exporters have already harvested and determined their balances. In Ukraine, as in Europe, wheat sowing is going according to plan, precipitation has provided sufficient moisture for the development of winter crops,” analysts note.
According to experts, with the current conditional price for Ukrainian wheat at about 220 USD/t, CPT-port, the market has potential for growth.
“The seasonal model indicates a likely recovery of the price with a potential increase of about 30 USD/t. “We can expect that in the second half of November, when traders unload existing stocks and begin to form purchases for December-January, the market will begin to grow,” the PUSK believes.
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