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Black Sea grains traded at lower prices, wheat lost the most
23 June 2020, 13:04
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.
