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Amid frost in the United States wheat prices rose by 2-4.9%, which will support prices in Ukraine

Published Jan 22, 2025

Tridge summary

Extreme low temperatures and lack of snow cover in the U.S. plains have caused damage to winter wheat crops, leading to an increase in wheat futures prices by 3.6-4.9%. However, overall prices rose by only 2-2.5% over the week. U.S. wheat exports for the season are 23.8% ahead of last year's pace, but EU exports are down 36.5% from last year. Egypt has purchased a significant amount of Russian wheat for delivery in January-February, but the prices and volumes are not publicly disclosed. Amid declining export demand, Russia's wheat exports in January are expected to be the lowest since January 2022. In Ukraine, export demand prices for milling and feed wheat have increased due to rising world wheat prices and limited supply from producers.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Low temperatures and lack of snow cover in most of the U.S. plains probably caused damage to winter wheat crops. Over the past 3 days, the frosts in the United States reached -20…-22 ° C, while the snow cover in the South-Western regions was not, which could adversely affect the crops. Although the frosts were short-lived, the quotes reacted to them by increasing by 3.6-4.9%, although overall for the week prices rose by only 2-2.5%. March wheat futures rose yesterday: Exports of wheat from the United States for 10-16 January decreased compared to the previous week by 12.5% to 261,8 thousand tons, and in General in the season reached 13,279 million tons, which is 23.8% ahead of last year’s pace. Exports of wheat from the EU (as of January 19) amounted to 11.74 million tons, which is 36.5% less than last year. The new Egyptian agency Mostakbal Misr has purchased a significant amount of Russian wheat for delivery in January-February, but there is no open information on prices and ...
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