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Increased supply presses down prices for Ukrainian new crop barley and wheat
18 June 2020, 10:35
With the start of fieldwork in Ukraine, new crop supply is arriving in the ports, which negatively affects price dynamics, Agritel reports.
After the southern regions, the first barley cuts continue in the centre of the country. In the southernmost parts of Ukraine, farmers are just beginning wheat harvest.
In a few days, barley lost 3-4 $ to trade now at 163-165 $/t CPT. The same trend is observed for wheat 11.5% which decreased by -3-5 $/week to184-187 $/t CPT. The feed wheat prices evolved little still displayed in the wide range of 173-179 $/t CPT, the consultancy writes.
Learn more: Wheat Production in Ukraine: 2020 Crop Forecast and Weather Risks
The markets were hesitant yesterday, especially on wheat, suffering on the one hand from the downward pressure from Chicago, and on the other hand, integrating good competitiveness of the French origins on the international scene on the basis of the current price levels.
Previously reported that wheat prices in Chicago fell again sharply, in a context of significant crop progress in the USA.
The Memorandum of Understanding between the Ministry of the Development of Economy, Trade and Agriculture of Ukraine and grain market participants will be signed on July 1 to ensure the projected grain export volume in the 2020/21 season.
