High prices for European wheat increase export demand for Ukrainian wheat, which rose in price by 25-30% during May.
- During this week, purchase prices for wheat in Ukraine increased by another 5-10 $/t.
- Thus, thanks to the rise in the dollar exchange rate against hryvnia, prices reached 9700-10000 UAH/t or 215-220 $/t for milling wheat on CPT basis.
- Feed with delivery to the Black Sea ports increased to 8900-9200 UAH/t t or 195-200 $/t .
Recent rains have improved crop conditions in Ukraine, but overall rainfall in May was well below normal. It will definitely reduce future harvest potential. The heat forecast for the coming weeks of 30-35 ° C will worsen the harvest prospects as well.
Ukraine exported 17.44 million tons of wheat in 2023/24, which is 12% higher than last year’s pace, and is reducing stocks on the eve of the new season.