Wheat prices in Ukraine are falling amid weak exports through ports, — Spike Brokers
14.04.2026 - 11:01
Despite stable FOB quotes, the pace of shipments through ports lags behind last year’s.
Over the past week, export prices for wheat in Ukraine have decreased significantly. This is reported by Elevatorist with reference to analysts from Spike Brokers.
Thus, food wheat (11.5%) on the CPT Odesa basis fell in price from $222 to $219/t (-$3), and feed wheat – to $215/t (-$1). At the same time, prices on the FOB basis remain relatively stable – at the level of $233-235/t, which indicates a restrained reaction of external markets.
Since the beginning of April, Ukraine has exported 362 thousand tons of wheat. The main destinations were Egypt (170 thousand tons), Spain (78 thousand tons), and deliveries were also made to Djibouti and Algeria. However, the pace of exports through ports remains lower than last year, which puts additional pressure on the market and limits the potential for price recovery.
At the global level, the situation is worsened by the exchange market situation. Quotes on MATIF have decreased to 195–203 €/t, a similar trend is observed on CBOT. The main reason is the latest USDA report, which confirmed the growth of world wheat stocks.
Additional pressure is created by:
• forecasts of a stable harvest in the EU, Russia and Argentina;
• a decrease in the cost of energy;
• a strengthening of the euro, which reduces the competitiveness of European exports.
On the physical market, the situation remains sluggish. Importers are in no hurry to intensify purchases even after the price decrease. Among the reasons are sufficient stocks and the approach of a new harvest.
“In the Black Sea region, competition remains high: Russian wheat maintains stable positions, while Ukrainian supply looks more affordable. However, significant old crop residues and the lack of active demand limit the potential for price recovery in the short term,” Spike Brokers noted.
Also the day before, USM wrote that Israel had accepted a Russian ship with stolen Ukrainian wheat.
