Demand for Ukrainian grain is falling due to the expectation of a new harvest

The demand for grain and leguminous crops decreased in anticipation of the saturation of the market with products of the new crop.

Wheat prices fell under the pressure of a significant supply and the reluctance of buyers to make active purchases before the new harvest. This is reported by Spike Brokers.

So, the last agreements were concluded at the level of $176 for feed wheat, $180 for wheat with a protein content of 10% and $190 for food wheat with delivery for export to seaports.

The latest indications of wheat buyers for the 2024 harvest in the ports:

• DAP Ukraine (Odesa) fodder ~174-175 dollars;

• DAP Ukraine (Odesa) 11.5pro ~$188-190;

• DAP Ukraine (Odesa) 12.5pro ~$192-194.

There is almost no activity at auctions of corn of the old crop. All the players’ attention is focused on the conjuncture of the new crop, analysts write.

New crop prices corrected significantly and traded at $155-$160/t to seaports for October-December delivery.

The latest indications of wheat buyers for the 2024 harvest in the ports:

• DAP Ukraine (Odesa) ~155-160 dollars;

• DAP Ukraine (Danube) ~160-165 dollars.

As of the end of June, Ukraine collected the first half a million tons of barley of the new harvest. Compared to last week, prices decreased by $10 to $150-155.

The latest indications of wheat buyers for the 2024 harvest:

• DAP Ukraine (Odesa) ~150-155 dollars;

• DAP Ukraine (Danube) ~154-157 dollars;

• FOB Ukraine (Danube) ~164-166 dollars;

• CIF Cyprus (port) ~185-188 dollars.

As USM wrote, the prices of Black Sea wheat for Egypt recently decreased.