Quotations on the Ukrainian wheat market returned to growth, supported by significant demand in international markets.

This was reported by analysts at Barva Invest on their Telegram channel.

It is noted that the December futures for Chicago increased by $ 0.12 / bu, the price of European wheat increased by 6.5 €/t, and the price of the Black Sea by 2 $/t.

At yesterday's tender, Egypt purchased only 60 thousand tons of Romanian wheat, and Turkey announced a new tender for the supply of 385 thousand tons of milling wheat. In addition, Iraq once again announces a deficit of 2 million tons of wheat in the current season. Canada expects wheat acreage to grow by 6% next season.

According to the report, prices on the Ukrainian corn market remain stable.

It is noted that global corn quotes showed a slight increase after a strong rally in the wheat and soybean markets. The December contract for American corn increased by $ 0.04 / bu, and for the Black Sea by $ 1.75 / t.

The dynamics of ethanol production in the US have stabilized, however, stocks continue to decline, which may provide additional support for prices in the future. Argentina's corn planting rate reached 43%, and the USDA expects production to hit 54.5 million tonnes next season.

Let's remind that if earlier the import of corn seeds to Ukraine was 60-70 thousand tons, now this figure has decreased to 30 thousand tons and less. Imports decreased due to the construction of seed facilities in Ukraine by foreign and domestic companies.

Latifundist