Purchase prices for wheat in Ukraine are growing rapidly following the global ones

Due to the rapid growth of wheat prices on world stock exchanges, traders in Ukraine also raised purchase prices for wheat, especially against the background of restraining sales by producers.

Russian agencies continue to lower their forecasts for the country's wheat harvest, which contributes to a rapid increase in prices. Yesterday, SovEcon experts reduced the forecast of the wheat harvest in Russia by 5.9 million tons to 76.4 million tons, which is even less than the 80.2 million tons previously predicted by Rusagrotrans and igrom 78.5 million tons. the Russian Grain Union also reduced the production forecast from 82.5-83 to 79-80 million tons compared to last year's 85.9 million tons and 85 million tons predicted by the USDA in July.

Since Monday, purchase prices for food wheat in the ports of Ukraine have increased by 1 15-20/ton to 2 237-243/ton or 7350-7400 UAH/ton, and for feed wheat – to 2 228-233/ton or 6900-7100 UAH/ton. 6700-6750 UAH/ton with delivery to the factory.

On the Chicago Stock Exchange, quotes of American and Black Sea wheat fell yesterday, as traders after a sharp increase in prices on Monday recorded profits in anticipation of data on the harvest in the United States and Russia.

• August Black Sea wheat futures fell by 2 2.5/ton to 2 268.5/ton, while December futures rose by 0 0.5/ton to.288.75/ton.

Wheat prices in Europe support precipitation forecasts that could delay harvesting or degrade grain quality.

• September wheat flour futures for MATIF fell 0.25 €/t to 228.25 €/t or 2 271 / t.

The delay in harvesting in the Northern Hemisphere has delayed the seasonal increase in new crop wheat supply, which is usually observed as early as the end of July, and data from the USDA August report will soon significantly correct markets.