Prices for new harvest wheat are rising in the ports of Great Odesa

More active demand from exporters and restrained supply from farmers support purchase prices for new crop food wheat.

Purchase prices for new crop food wheat are increasing on the Ukrainian export market this week. This is reported by APK-Inform.

As of May 6, in the ports of Great Odesa, the demand prices for new crop food wheat are:

• Grade 2 wheat — $219–227/t CPT-port;

• Grade 3 wheat — $218–226/t CPT-port.

This is $2–4/t higher than last week.

The growth is facilitated by increased demand from exporters against the background of restrained supply from farmers. This intensifies competition between buyers in the port segment. At the same time, the potential for further price increases is limited by the decline in futures on world exchanges.

Also, the day before, USM wrote that a record oilseed harvest is predicted in the Black Sea-Danube region.