Last week, the purchasing prices for wheat in Ukraine increased due to a decrease in offers from producers and active export demand
Local prices increased for feed wheat by 100-200 UAH/t to 6800-7000 UAH/t or 156-158 USD/t. Milling wheat prices showed the same increase and reached the level of 7600-7900 UAH/t or 173-178 USD/t with delivery to Black Sea ports.
The victory of Ukrainian wheat at the tender in Egypt intensified the demand for milling wheat all over the country. It should be noted that the remaining stocks are already rather small at the end of the season.
Farmers, taking advantage of the favourable weather, are actively sowing. They have no time to sell the leftovers. And precipitation improves the condition of crops and prospects for the future harvest. According to the first forecast of the Ministry of Agriculture, in 2024 the wheat harvest in Ukraine will decrease compared to the previous year from 22.2 to 19.2 million tons.
In 2023/24, Ukraine exported 15 million tons of wheat. In particular in April – 1.17 million tons (0.65 million tons for April 1-17, 2023). USDA experts increased the export forecast for Ukrainian wheat from 16 to 17.5 million tons.