Ukrainian wheat falls in price amid escalation from the Russian Federation
23.02.2022 - 11:10
A new rock bottom price for wheat was established in small Ukrainian ports against the backdrop of news about the recognition of the “independence” of the territories of ORDLO by the Russian Federation.
As of February 22, the cost of offers of Ukrainian wheat with 11.5% and 12.5% protein FOB Berdiansk with delivery in February-first half of March was $281.25/ton and $283/ton FOB Berdiansk respectively, according to Refinitiv Agriculture.
This is about $4 below Friday, February 18th. Offers of wheat with protein 11.5% FOB Mykolaiv remained at the same level – $310/ton.
The maximum price drop (for almost 5 months) was set in small ports against the background of the recognition of the independence of the occupied territories of Ukraine on February 21st by the Russian Federation. Importers are worried that there may be interruptions in supplies, and therefore they are wary of purchasing Ukrainian grain.
