Grain prices: Ukrainian corn and wheat continued to fall, barley – at last week’s level – analysts G.R. Agro

18/ 01/ 2022

As of January 18, demand prices for Ukrainian Class 2 wheat at CPT ports in deep-water ports in dollar terms fell by $ 1 per tonne to $ 312 per tonne. Class 3 wheat prices remained at last Fridays level. This opinion was expressed by analysts at G.R. Agro. It is noted that in hryvnia equivalent the demand prices for wheat of 3rd and 2nd classes increased by UAH 50 per ton CPT port, which may be due to the strengthening of the dollar to UAH 28.12. “From July 1, 2021 to January 12, 2022, Ukraine exported 16.19 million tons of wheat, which is 67% of the USDA forecast. A large balance of wheat in the country puts pressure on prices in general. Turkish TMO bought 335 thousand tons of wheat, prices ranged from $ 341.9-348.9 per ton on a C&F basis (on average $ 13 per ton lower against the purchase on December 21) and $ 345.7-351.8 per ton on a basis EXW , - told in GR Agro. According to analysts, limited interest from importers may put pressure on grain prices. According to the report, CPT demand prices in the feed wheat export market remained at the level of last Friday. Further pricing, according to experts, will depend on neighboring markets and the level of demand for feed wheat. As of January 18, demand prices for CPT deep-water corn ports in dollar terms remained at last Fridays level of $ 268 per tonne. FOB deep-water port supply prices are mainly announced for delivery in February. The large number of proposals from the Black Sea coast puts pressure on grain prices, commented G.R. Agro. The long-awaited rains are reported to have come to Argentina, but it is still unclear how they will affect the state of the harvest. In Brazil, however, there is a contrast: in the northern states it is raining, which hinders harvesting, and the southern states continue to suffer from a lack of moisture. In addition, as of January 18, in the deep-water ports of Ukraine, the demand price for barley on the terms of the CPT port remained at the level of last Friday - $ 273 per ton. It will be recalled that the new harvest is already being actively traded, but the situation with the old one is the opposite. In the conditions of rapid devaluation of the hryvnia, producers prefer to sell the remnants of the 2021 harvest, mainly for specific needs in money.

This opinion was expressed by analysts at G.R. Agro.

It is noted that in hryvnia equivalent the demand prices for wheat of 3rd and 2nd classes increased by UAH 50 per ton CPT port, which may be due to the strengthening of the dollar to UAH 28.12.

“From July 1, 2021 to January 12, 2022, Ukraine exported 16.19 million tons of wheat, which is 67% of the USDA forecast. A large balance of wheat in the country puts pressure on prices in general. Turkish TMO bought 335 thousand tons of wheat, prices ranged from $ 341.9-348.9 per ton on a C&F basis (on average $ 13 per ton lower against the purchase on December 21) and $ 345.7-351.8 per ton on a basis EXW “, – told in GR Agro.

According to analysts, limited interest from importers may put pressure on grain prices.

According to the report, CPT demand prices in the feed wheat export market remained at the level of last Friday. Further pricing, according to experts, will depend on neighboring markets and the level of demand for feed wheat.

“As of January 18, demand prices for CPT deep-water corn ports in dollar terms remained at last Friday’s level of $ 268 per tonne. FOB deep-water port supply prices are mainly announced for delivery in February. The large number of proposals from the Black Sea coast puts pressure on grain prices,” commented G.R. Agro.

The long-awaited rains are reported to have come to Argentina, but it is still unclear how they will affect the state of the harvest. In Brazil, however, there is a contrast: in the northern states it is raining, which hinders harvesting, and the southern states continue to suffer from a lack of moisture.

In addition, as of January 18, in the deep-water ports of Ukraine, the demand price for barley on the terms of the CPT port remained at the level of last Friday – $ 273 per ton.

It will be recalled that the new harvest is already being actively traded, but the situation with the old one is the opposite. In the conditions of rapid devaluation of the hryvnia, producers prefer to sell the remnants of the 2021 harvest, mainly for specific needs in money.