Wheat producers back on market amid prices high — Agritel

Yesterday, Sep 24, Black Sea prices in CPT or FOB basis declined slightly to consolidate an uninterrupted bullish trend that started at the beginning of August, the Agritel consultancy reports. Since mid-August, wheat prices FOB Novorossiysk basis surged from 200 USD/t to 238 USD/t before yesterday's decline.

As reported, expressed in hryvnia for the Ukrainian domestic market or in ruble for the Russian one, wheat prices are currently dealing on record levels.

"In such a context, producers are progressively getting back on the market. Most of them are fearing to see the wheat following sunflower’s trend. Indeed, the oilseed plunged by about -10% in a week," the message reads.

Wheat shipment from Ukraine as of Sep 23 stood at 7.45 mln t, 1.1% or 81 thou. t lower YoY.

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