ODESA: 2 days off in Ukraine at the beginning of the week settled the market down.
After the holidays, wheat prices tended to decrease, and farmers started to offer their stocks more actively. As a result, it brought to even bigger price reduction. During this week, prices went down around 10 $/T. CPT prices in main Ukrainian ports came to 270 $/T for milling wheat and 260 $/T for feed wheat. Some market participants tried to use the situation and reduce their purchasing prices by 20-30 $/T. But this manoeuvre wasn’t successful, and they had to return to the market prices.
Despite constant price growth, Ukraine has already exported 3.4 mln tons of wheat since the beginning of the new season. If the Ukrainian wheat prices show a significant decrease in the nearest future, export volumes will be much bigger in September.