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In the export market of feed wheat there is a downward trend in demand prices – analysts G.R. Agro

02/ 02/ 2022
  Food wheat. Market trends As of February 1, demand prices for CPT Class 2 and 3 Ukrainian wheat in deep-water ports in dollar terms decreased by $ 2 / tonne compared to last Friday - to $ 308 and $ 307 / tonne. In hryvnia equivalent, the decrease was by UAH 50. Ukrainian wheat prices are still under pressure amid political tensions between Ukraine and Russia. There are also negative signals from the CBOT, due to the fact that rains in the United States may improve the drought. On January 28, the Egyptian GASC purchased 420,000 tons of wheat, of which: 180,000 tons of Ukrainian wheat with an average price of $ 327 / ton C&F (- $ 8 / ton against the purchase on December 29); 120 thousand tons of Russian with an average price of $ 329.4 / ton C&F (- $ 17.5 / ton against the purchase on December 29) and 120 thousand tons of Romanian with an average price of $ 329.65 / ton C&F (- $ 11.3 / ton against the purchase) December 29). Tunisia has announced a tender for 100,000 tons of wheat for delivery from March 25 to April 25, which will take place on February 2. Demand for new harvest wheat remains limited. On February 1, Jordan purchased 60,000 tons of new crop wheat at a price of $ 326 / ton C&F with delivery in the second half of August. Forecasts If favorable weather conditions continue for the new wheat harvest in the Black Sea and Europe, additional price pressures may arise. The development of prices will also depend on Russias behavior in relation to the formula for calculating export duties. Russia may consider changing the formula of the export duty after February 15 to ease conditions for farmers and traders. Fodder wheat. Market trends In the feed wheat export market, there is a declining trend in CPT demand prices for deep-sea ports against the background of pricing in neighboring markets. Forecasts Further pricing will depend on neighboring markets and the level of demand.

Food wheat

Market trends

As of February 1, demand prices for CPT Class 2 and 3 Ukrainian wheat in deep-water ports in dollar terms decreased by $ 2 / tonne compared to last Friday – to $ 308 and $ 307 / tonne. In hryvnia equivalent, the decrease was by UAH 50. Ukrainian wheat prices are still under pressure amid political tensions between Ukraine and Russia. There are also negative signals from the CBOT, due to the fact that rains in the United States may improve the drought. On January 28, the Egyptian GASC purchased 420,000 tons of wheat, of which: 180,000 tons of Ukrainian wheat with an average price of $ 327 / ton C&F (- $ 8 / ton against the purchase on December 29); 120 thousand tons of Russian with an average price of $ 329.4 / ton C&F (- $ 17.5 / ton against the purchase on December 29) and 120 thousand tons of Romanian with an average price of $ 329.65 / ton C&F (- $ 11.3 / ton against the purchase) December 29). Tunisia has announced a tender for 100,000 tons of wheat for delivery from March 25 to April 25, which will take place on February 2. Demand for new harvest wheat remains limited. On February 1, Jordan purchased 60,000 tons of new crop wheat at a price of $ 326 / ton C&F with delivery in the second half of August.

Forecasts

  • If favorable weather conditions continue for the new wheat harvest in the Black Sea and Europe, additional price pressures may arise. The development of prices will also depend on Russia’s behavior in relation to the formula for calculating export duties. Russia may consider changing the formula of the export duty after February 15 to ease conditions for farmers and traders.

Fodder wheat

Market trends

In the feed wheat export market, there is a declining trend in CPT demand prices for deep-sea ports against the background of pricing in neighboring markets.

Forecasts

  • Further pricing will depend on neighboring markets and the level of demand.

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