The Spread Between Food and Feed Wheat Has Increased to $8–10
In the European market, buyer activity has decreased ahead of Easter and the extended weekend. At the same time, the Ukrainian market is showing high demand in the old crop wheat segment.
This is reported by AgroReview
According to analysts at Spike Brokers, demand from buyers is primarily focused on food wheat, which is driving up prices. Meanwhile, feed wheat remains less attractive to speculators. As a result, the price difference between food and feed wheat globally has increased to $8–10 per ton.
Prices for the New Crop and Buyer Indications
Prices for the new crop wheat in ports remain stable: under DAP conditions, the price for 11.5% protein wheat was trading in the range of $216–218. At the same time, feed wheat costs $206–208.
The latest data on buyer price indications for the 2024 crop:
- Ukraine (Odesa), 12.5% protein — about $236–238;
- Ukraine (Odesa), 11.5% protein — about $234–236;
- Ukraine (Odesa), feed — about $226–228.
Regarding prices for the 2025 crop:
- Ukraine (Odesa), 12.5% — approximately $218–220;
- Ukraine (Odesa), 11.5% — about $216–218;
- Ukraine (Odesa), feed — $206–208;
- Germany (northwest), feed — €208–210;
- Netherlands (south), feed — €205–206.
It should be noted that a fundamental restructuring of the export geography of wheat is taking place, indicating a change in traditional routes and export strategies.