5 March 2021, 14:17, Grain

New crop trade started in Ukraine: Refinitiv Agriculture

The active procurement of the 2021 harvest grain has started in the Black Sea region, Refinitiv Agriculture writes.

"The most actively discussed deals with new harvest grain are in Ukraine on the basis of CPT, despite the issues arising in covering forward contracts in 2020 amid lower harvest volumes and a sharp rise in prices — farmers are drawn by high prices," analysts say.

However, Russian agriproducers are not yet actively involved in selling grain of the new harvest for uncertainty about the amount of duty that will be imposed on the new crop, experts note.

Related: Why Are Traders Backing up? How Will Defaulted Forward Contracts Hit the Grain Market?

Staple grains export shipment from Ukraine has made up 32.22 mln t since the start of the 2020/21 season.

FAO’s preliminary forecast for global wheat production in 2021 points to a third consecutive annual increase to 780 mln t, a new record.

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