Wheat Prices Plummet Amid Weak Demand and High Logistics Costs

Global wheat prices continue to decline due to weak importer demand and a comfortable global balance. This has led to a significant drop in futures prices on major exchanges, with December SRW wheat futures in Chicago falling by 5.5% over the week to $253.1/t.

In Ukraine, domestic wheat prices are being pressured by high logistics costs to ports in Poland and Romania. At Danube ports, purchase prices remain at $170-177/t for milling wheat and $150-155/t for feed wheat.

Despite lower prices, Ukrainian exports have been below last year's levels, with 801 thsd tons of wheat exported in the first 25 days of September compared to 1.52 mln tons a year earlier.