As of February 3, demand prices for Ukrainian milling wheat of 2 and 3 CPT classes deep-water ports in dollar terms remained at the level of Tuesday - $308 and $307 per ton. In hryvnia equivalent, the decrease occurred by UAH 250.

This was reported by analysts at G.R. Agro.

“Wheat prices are declining amid falling grain quotations on world markets amid the weakening of the political conflict between Russia and Ukraine and low demand. On February 2, Tunisia purchased 100 thousand tons of wheat: 50 thousand tons from Casillo at a price of $348.69 per ton and $350.69 per ton, 25 thousand tons from Cargill ($350.64 per ton) and 25 thousand tons from Lecureur ($350.77 per ton)," GR Agro noted.

Experts predict that demand from importers will drive prices. Also, the development of prices will depend on the behavior of Russia according to the formula for calculating export duties after February 15.

The feed wheat export market is seeing a downward trend in bid prices for CPT deep water ports amid pricing in neighboring markets, analysts said. In G.R. Agro predict that further pricing will depend on neighboring markets and the level of demand.

Also, demand prices for feed corn CPT deep-water ports in dollar terms decreased by $1 per ton against Tuesday to $271 per ton amid a decline in demand. In addition, negative signals came from Chicago, where quotes were under pressure due to an increase in ethanol stocks in the United States, as well as China's cancellation of purchases of 380 thousand tons of American corn with supply in 2021/22 MY.

“A large number of offers of Ukrainian corn may put pressure on prices on a CPT basis. The announcement of a tender by Turkish TMO for the purchase of 325,000 tons of corn, which will take place on February 8 with supplies on February 25-March 5, may limit the price reduction,” experts predict.

It is also noted that demand prices for feed barley CPT deep-sea ports of Ukraine decreased by $6 per ton against Tuesday - to $272 per ton. ) and Cargill ($339.70 per ton). Jordan canceled its tender for the purchase of 120 thousand tons of barley. A new tender is expected on 8 February.

It is predicted that the limited number of offers may hold back prices.

Recall that grain prices usually go into a correction at the end of January at the beginning of February, which lasts until April. For wheat, let the January (local maximum) become a seasonal peak, while corn makes another round of growth in April-May. This is the seasonality that is often talked about.

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