Wheat Prices in Ukraine Rise Due to High Demand and Decreased Harvest
Amid high demand and forecasts of a reduced harvest in Ukraine, wheat prices continue to rise. In the country, there is a high seasonal demand for food wheat ahead of Easter, which supports price levels, especially in the context of supply shortages from farmers who have started the planting campaign and reduced trading activity.
This is reported by AgroReview
The Wheat Market and Its Prices in Ukraine and Global Markets
Last week, processors offered prices for 2nd grade wheat ranging from 11,000 to 11,500 hryvnias per ton with delivery to the mill, significantly exceeding the level of export prices, which increased by 100-200 hryvnias to 10,800-11,000 hryvnias/ton or 232-235 dollars/ton with delivery to ports. In the ports, corn prices rose to 227-230 dollars per ton, while feed wheat prices remained at 22,300-22,600 dollars/ton or 10,550-10,650 hryvnias/ton, as traders find it difficult to sell more expensive Ukrainian feed wheat on the global market.
In the 2024/25 marketing year, Ukraine has already exported 13.42 million tons of wheat, which is 11.8% less than the corresponding figure from last year (15 million tons). In the first two weeks of April, only 300 thousand tons were exported, while last year during this period, exports amounted to 1.17 million tons.
Global Trends and Wheat Price Forecasts
On global markets, wheat quotations began the week with a decline. European wheat saw the largest drop due to the strengthening of the euro, which will complicate export rates from the EU. May wheat futures recorded declines on various exchanges: in Chicago by 1.5% to 201.2 dollars per ton, in Kansas City by 2.3% to 204 dollars per ton, in Minneapolis by 1.7% to 222.2 dollars per ton, and in Paris by 2% to 214.25 euros or 243.2 dollars per ton.
The price drop in the U.S. is linked to forecasts of good rainfall in Kansas and Texas, which could affect crop conditions. According to the weekly Crop Progress report, the area planted with winter wheat decreased by 1% to 47%, which corresponds to last year’s figures. Meanwhile, wheat exports from the U.S. from April 4 to April 10 increased by 80% to 604.5 thousand tons, bringing the season’s total to 18.3 million tons, which is 14.3% more than last year.
The European Union has already exported 16 million tons of wheat in the 2024/25 marketing year, which is 35% less than last year’s figures. The strengthening of the euro also contributes to the depreciation of European wheat, and prices for it fell by 4.5% last week.
Future Events and Prospects for the Grain Market
The further development of the grain and oilseed market in Ukraine and the Black Sea region will be discussed during the 23rd International Conference BLACK SEA GRAIN.KYIV, which will take place on April 24 in Kyiv. Participants will have the opportunity to engage in strategic discussions and network with leading international experts in the field.