Black Sea grain prices pushed up, sunflower gained 20 USD/ton
Grain prices in the Black Sea basin have been rallying again since the beginning of the week, the Agritel consultancy reports. The prices of the main crops on CPT Odesa were at the following levels yesterday Oct. 21 evening:
- 243 USD/t for wheat 11.5%, up by more than USD 5 since the beginning of the week
- 218 USD/t for corn, up more than USD 10 since the beginning of the week
- 197 USD/t for feed barley, up by USD 5
"This euphoria is also observed on the oilseed market with sunflower seed EXW prices trading at around 560 USD/t in the central regions of the country (including VAT), up by around USD 20 since the beginning of the week. As for soybeans, the CPT Odesa prices for GMO is trading at 460 USD/t, up by more than 20 USD/t since last Friday," the report reads.
These increases are explained by Agritel experts as much by the movement observed over the last few days on the world's exchanges as by the traders’ difficulties to source the commodity to honour their contracts.
In addition, corn and soybean prices continued to rise yesterday in Chicago, despite the effect of coming harvest. Wheat, on the other hand, was consolidating, because in particular of the return of some rains in Russia and the USA.
As a reminder, as of October 19, agriproducers in Ukraine harvested 62.2 mln t of main crops on 19.9 mln ha, of which grains and legumes total 47.4 mln t harvested on 12.3 mln ha, making up 80% of the planned areas.