Wheat stock quotes are falling, but in Ukraine, a shortage of supply is supporting prices

Published Apr 23, 2025

Tridge summary

Ukrainian farmers are withholding wheat sales due to limited rainfall, leading to increased demand and high prices. However, global exchange quotes have fallen due to favorable weather in the EU and US, and decreased import demand. As a result, Ukraine has reduced its wheat exports for the 2024/25 season by 11.1% compared to the previous season. Additionally, wheat exports from the US and EU have also decreased. Russian wheat prices have remained stable, while prices for the new crop have decreased due to improved harvest forecasts. The Algerian State Grain Agency has purchased at least 570,000 tons of milling wheat at a price of $267.5/ton C&F, with the main suppliers being Ukraine, Romania, and Bulgaria.

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

Original content

In Ukraine, farmers are holding back wheat sales amid a lack of rainfall, which keeps demand and prices for food grains high, while quotes on world exchanges fell by 1.5-2.8% over the week due to favorable weather in the EU and the US and reduced import demand. During the week, export prices for food wheat in Black Sea ports remained at 11,000-11,100 UAH/t or $234-237/t, and for feed wheat – within 10,550-10,650 UAH/t or $225-226/t. In the 2024/25 MY, Ukraine reduced wheat exports compared to the same period in the previous season by 11.1% from 15 to 13.49 million tons, in particular in the period from April 1 to 17 – from 1.17 million tons to 367 thousand tons. May wheat futures fell on Monday: Prices are being pressured by data from the weekly Crop Progress report, according to which 17% of the area sown with spring wheat in the US as of April 20 (12% on average for 5 years), and the number of winter wheat crops in good or excellent condition decreased by 2% to 45% for the ...

Source: Graintrade