Wheat prices in the US fell sharply, and in Ukraine grow
on Thursday, the price of American wheat fell sharply, although the day before on news of an active export market shows the greatest growth over the last 8 months. Weekly export sales amounted to 569 thousand tons in the background of the expert expectations of 300-500 thousand tons.
However, investors decided not to risk and took profit.
the March wheat prices in the U.S. fell:
- in Chicago by 2.57 $/ton to 164,52 $/tones of soft winter wheat SRW,
- in Kansas city at 4.13 $/tonne to 168,28 $/tones on hard winter wheat HRW,
- in Minneapolis by 6.52 $/tonne to 202,18 $/tone for hard spring wheat HRS.
along with the global upward trends due to strong demand, wheat prices in Ukraine and Russia also increased by $ 2-3. For this some customers cancelled or postponed a tender for the procurement of grain.
Despite the large world stocks, in the market there is a shortage of wheat of good quality, especially of Russian origin. The main cause is the fall in the rate of export from Russia and ruble appreciation.
In Ukraine on the basis of CPT-port for wheat offer:
- class 2 $166-170 or 5300-5350 UAH/t,
- class 3 $165-167 or 5200-5250 UAH/t,
- feed $155 to 158 or 4900-5000 UAH/t