Export prices for food wheat in Ukraine reached UAH 10,000/t

Purchase prices for wheat in Ukraine have risen sharply against the background of active exports and limited supply, and are not yet affected by the decline in world quotations.

 

During the week, export purchase prices increased by another $5-6/t to $210-215/t or UAH 9,700-10,000/t for food and to $200-205/t or UAH 9,400-9,550/t for feed wheat with delivery to the Black Sea ports.

 

In 2024/25, Ukraine exported 6.9 million tons of wheat (3.9 million tons in the same period last year), of which in October – 796 thousand tons, which is 34% higher than the corresponding indicator of October 2023.

 

An increase in the amount of precipitation made it possible to accelerate the pace of sowing. As of October 14, 3.7 million hectares or 72% of the planned 5.18 million hectares were sown with winter wheat.

 

Against the backdrop of active demand from importers, prices for Russian and Ukrainian wheat rose to $230-235/t FOB, which supports purchase prices in Ukraine.

 

In the Russian Federation, as of October 14, 85.8 million tons of wheat were threshed from 97% of the areas (including the occupied territories), and the harvest is coming to an end.

 

In the US and South America, there are rains for the second week in a row, which improves the condition of wheat crops and lowers quotations. During the week, wheat prices on US exchanges fell by 1.3-2.8% (having lost the growth of the previous week), but in the EU they remain at a high level of $250/t.

 

Yesterday, December futures fell:

• by 2.4% to $215/t – for soft winter SRW wheat in Chicago (-1.3% for the week),
• by 2.5% to $216.8/t – for hard winter HRW wheat in Kansas City (-2.2%).
• by 2.8% to $230.2/t - for hard spring HRS-wheat in Minneapolis (-2.8%),
• by 0.1% to €228.75/t or $249.4/t - for wheat on the Paris Euronext (0%).

 

The decision by the Egyptian authorities to cap the price of future wheat purchases at $240/t may limit the rise in Black Sea wheat prices in the near term, especially after GASC bought 3.2 million tons of Russian wheat out of tender. Currently, the strategic wheat stock in the country is enough for 5.2 months, so there is no need for new purchases against the background of rising world prices. In the first 9 months of 2024, Egypt increased wheat imports by 30% from 8.3 to 10.8 million tons compared to the corresponding period of 2023.