Ukraine's Wheat Market Suffers Under Pressure of Moderate Demand

Ukraine's wheat market continued to be dominated by downward price trends last week, as moderate demand from traders and sufficient supply put pressure on prices. The agency APK-Inform reported that not all farmers were ready to sell their wheat at prevailing prices, resulting in them holding back sales.

Buyers were also hesitant to purchase, quoting minimum prices or levels close to them. Only some processors who needed large volumes of wheat urgently were willing to raise prices slightly.

The bid prices for feed wheat and Class 2 wheat during the week ranged from 5,500-7,800 UAH per ton and 6,600-8,100 UAH per ton CPT, respectively. At Ukrainian ports, prices for food-grade and feed wheat increased by $2-5 per ton and reached $165-175 per ton and $158-166 per ton CPT-port, respectively.