Wheat prices may rise as early as the second half of November.

In October, Ukraine exported about 1.5 million tons of wheat, and in the first three days of November, 67 thousand tons. The pace of shipments remains stable, and the market is moving in line with seasonal expectations.

This is reported by the analytical department of the agricultural cooperative PUSК, created within the framework of VAR.

"Currently, everything is stable in the global market—most exporters have already harvested and determined their balances. In Ukraine, as in Europe, the sowing of wheat is proceeding according to plan, and precipitation has provided sufficient moisture for the development of winter crops," analysts noted.

According to experts, with the current conditional price of Ukrainian wheat at around 220 USD/ton, CPT port, the market has the potential for growth.

"The seasonal model indicates a likely price recovery with a potential increase of approximately 30 USD/ton. It can be expected that in the second half of November, when traders unload existing stocks and begin to form purchases for December–January, the market will start to grow," PUSК believes.