Ukrainian wheat export prices followed global market trends

An upward price trends persisted in Ukrainian wheat market last week. Export prices for Ukrainian wheat closed the week up another USD 2‑3/MT FOB, depending on the class.

Wheat prices were pushed up mostly by global market trends and concerns about the future wheat crop in major exporting countries. Wheat prices on the Chicago exchange rose by a record 12% over the week. In addition, wheat export prices continued to steadily grow all over the Black Sea region. The foreign demand was still high for this time of the season, while wheat supply from Ukraine decreased noticeably.

The domestic wheat market was still supported by strong demand from traders amid decreasing stocks. By the end of the week, domestic wheat prices had gained on average UAH 100-150/MT.

IC UAC