Ukraine's Wheat Exports Plummet Amid Global Grain Market Surge

The global grain market saw a rise in prices for the week, but Ukrainian basis prices did not follow suit.

According to a weekly market review by Spike Brokers, food-grade wheat in Ukraine dropped by $10 to $185 per metric ton on a CPT Odessa basis, while feed-grade wheat fell by $10 to $175 per metric ton.

Ukrainian wheat exports during August 1-27 fell by nearly 50% (-49.8%) compared to the same period last month, totaling 486,600 metric tons from 969,400 metric tons.

The main destinations for Ukrainian wheat were Bangladesh (251,000 metric tons), Indonesia (243,500 metric tons), and Algeria (226,300 metric tons), accounting for about 74% of total exports.