In Ukraine, more than 3,5 million tons of wheat were collected from 14,7 million hectares of land, contracts for the purchase of Ukrainian wheat were concluded not only for August, but also for September, and prices show an upward trend.
About this reported in the analytical cooperative "PUSK", created within the framework of the All-Ukrainian Agrarian Council (VAR).
"In the CRT wheat markets, there is an increase in prices by $5-6 per ton, while in the CIF markets - by only $1. CIF prices are usually the first to rise, so this situation indicates traders' problems with covering contracts. Because of this, traders encourage farmers with higher prices." analysts note.
"PUSK" predicts that such a local bias may last for about two weeks.
In the seaports of Odesa, the conditional prices for wheat in the coming week will fluctuate between $175-189/t on the basis of SRT, on the terms of CIF Constanta - $205-215/t.
The report says that in the long term, wheat prices will rise. An important factor that will support the upward movement of prices is the global decrease in grain production.
"European grain markets show instability. Wheat production is expected to decrease by 10 million tons in the EU, by 10 million tons in the Russian Federation, and by 3-4 million tons in Ukraine. Only the USA predicts an increase in production by 4 million tons, which will not cover the fall in the EU and the Russian Federation. Therefore, world prices will probably increase against the background of a decrease in production." - they add in "PUSK".
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