ODESA: Good crop forecasts in USA, Canada and Russia made world prices for wheat go down. Ukrainian farmers had high hopes for the opening of the Grain-Corridor from Odessa, but so far there are no prerequisites for local prices improvement.
Purchase prices for Ukrainian wheat remain at a low level of 180-200 $/t delivered to the port. It is difficult for traders to find cheap freight from Ukrainian ports. Extra cost of insurance makes the freight from Ukraine much more expensive than neighbour countries.
17 vessels have already left the Ukrainian ports along the Grain-Corridor, but the pace of exports remains low. The intensity of deliveries through the western borders has fallen on expectations of increased maritime exports, which have not yet earned their full capacity. In the new season, Ukraine exported only 658 thousand tons of wheat compared to 2.088 million tons for this period last year.
Prolonged rains delay wheat harvesting, degrade its quality and may lead to partial crop loss.