Rising prices for Russian and European wheat support purchasing prices in Ukraine

Published 2024년 12월 17일

Tridge summary

Russian wheat prices have led to an increase in quotations for wheat in Europe and Ukraine, while American grain prices have fallen. North African countries are actively demanding Russian wheat, and demand prices for French, American, German, and Ukrainian wheat have also changed. Ukrainian grain prices may increase further due to decreased export demand and devaluation of the hryvnia. In the 2024/25 marketing year, Ukraine's wheat exports increased, but decreased in the first half of December. European wheat prices were supported by a tender in Saudi Arabia, where 804 thousand tons of milling wheat was purchased. Wheat exports from the USA and Russia remain high.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The rise in Russian wheat prices led to an increase in quotations for European and Ukrainian wheat, while American grain fell by 1-3% in a month amid declining export demand. According to Rusagrotrans, during the week, export demand prices for Russian wheat with a protein of 12.5% and delivery in January increased by $7/t to a 2-month high of $235/t FOB against the backdrop of active demand from North African countries. During this time, demand prices for French wheat increased by $2/t to $242/t, for American wheat – fell by $5/t to $244/t, for German wheat – remained at $254/t on a FOB basis. In Ukraine, against the backdrop of the devaluation of the hryvnia, the demand prices for wheat in the Black Sea ports increased by 50-100 UAH/t to 9950-10100 UAH/t or 209-214 $/t for food wheat, and by 100-200 UAH/t to 9500-9600 UAH/t or 204-205 $/t for feed wheat. At the same time, the demand prices for deliveries to the port of Constanta increased to 227-228 $/t for food wheat and 225-226 ...

Source: Graintrade