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Ukrainian wheat price rises aligned with global trends
5 November 2021, 13:35
Ukrainian wheat prices continued to grow following the global trends, Barva Invest analysts report. They note that December futures in Chicago fell by 0.08 USD/bushel amid a slowdown in U.S. exports. The price of European wheat rose by 0.5 EUR/t, while the Black Sea wheat was stable.
"In the meantime, prices in physical markets keep rising. Pakistan has not yet made a decision on the results of the last wheat tender, in which the price reached 407.37 USD/t C&F," comment the analysts.
Official data shows that as of the beginning of October, wheat stocks in Russia were 6-year low. The USDA attache in India raised the export estimate to 5 mln t.
As a reminder, the prices for Ukrainian corn and wheat were rising for five consequtive weeks: wheat added 8 USD/t, corn 7 USD/t.
