ODESSA – Due to the acceleration of wheat harvesting in Ukraine, the pressure on prices in the market is increasing. Prices are already dropping by an average of USD 5 /mt per week, but the lack of buyers increases the pressure.
Furthermore, the rise in freight costs in all directions also significantly influences purchase prices. The freight from the Black Sea ports to Asian ports increased from USD 40-45 to USD 60-70 /mt.
At the same time, wheat exports from Australia remain strong, which continues to reduce demand for Black Sea wheat from Asian buyers.
As a result, purchase prices for milling wheat in Ukraine decreased to USD 220-225 /mt or 6.600-6.800 UAH /mt with delivery to the port. At the same time, the discount for feed wheat continues to increase to about USD 10 /mt.