Prices for Ukrainian agricultural products have decreased

Over the past week, prices for export cargoes of corn, wheat, rapeseed and soybeans continued to decline.

Over the past week, prices for old crop corn have continued to decline. This was reported by Spike Brokers.

So, corn traded at the level of 165-170 dollars — with delivery to seaports in June-July. Indications for the new crop of corn also fell to the level of $165 – with the delivery of SRT-port. Delivery of corn under CIF conditions to Italian ports reaches about 210-212 euros.

At the same time, the decrease in wheat prices is caused solely by the influence of external factors of seasonal undercutting of prices by final buyers. Over the past week, prices for the new crop of wheat have been reduced by traders to $10 per ton. Liquidation of long positions or pre-harvest profit-taking by traders added pressure on futures prices and lower quotes.

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

• DAP Ukraine (Odesa) 12.5pro ~198-200 dollars;

• DAP Ukraine (Odesa) 11.5pro ~195-197 dollars;

• DAP Ukraine (Odesa) fodder ~182-185 dollars.

Rape prices are volatile due to the upcoming harvesting campaign in Europe and Ukraine. The possibility of selling Ukrainian rapeseed in the direction of Asia, Europe and internal processing in Ukraine creates competition for agricultural crops.

The market estimates the total volume of sold rapeseed forward at the level of 600-800 thousand tons with delivery from July to January in all export directions. Instead, domestic processing cannot compete with export prices and is forced to wait for supply pressure from mid-July. Players estimate domestic rapeseed processing at or below 1 million tons.

The latest indications of rapeseed buyers for the 2024 crop in sea and river ports:

• DAP Ukraine (Odesa) ~425-430 dollars;

• FOB Ukraine (Danube) ~445-450 dollars;

• CIF Romania (port) ~430-435 euros.

Soy continues to be actively traded in the direction of Europe. In the direction of Italy, you can find sales of agricultural products at the level of 440-450 euros.

Latest indications from buyers of GM soybeans at Danube ports on DAP terms are around $435-440, delivery to Turkish ports on CIF terms is around $455-460.

As USM previously wrote, after two years of full-scale war, Ukraine was able to balance the balance of grain production and export.