Black Sea grains traded at lower prices, wheat lost the most
For the 2020 harvest, the Black Sea market was decreasing last week, especially in wheat, Agritel reports.
In details, for port harvest delivery, feed wheat is trading at 173 USD/t against respectively 184 and 186 USD/t for 3rd and 2nd class of milling wheat.
As reported, barley remains stable at 163 USD/t. Corn is posted at 147 USD/t for October delivery.
Related story: Ukrainian and US Corn Price Rally
Rapeseed returns to test the highest levels since the launch of forward contracts at 415 USD/t.
As of June 21, winter wheat harvest in the US was 29% completed. In 2019, agriproducers covered 13% of the areas.
The Ministry for Development of Economy, Trade and Agriculture of Ukraine is estimating the grain harvest 2020 at over 68 mln t vs. the previously announced forecast of 65-68 mln t.
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.