ODESA: World wheat prices increase has led prices for milling wheat in Ukraine to a record level. As noted, the growth was the November IGC report published at the end of the week. The forecast for world wheat production in 2021/22 MY was reduced by 3.4 million tons to 777.4 million tons.
Following world quotations, purchase prices for milling wheat in the ports of Ukraine reached a record 325-330 $/t or 9.600-9.700 UAH/t. However, prices for feed wheat remain 20-25 $/t lower. Shortage of offers also puts a certain pressure on Ukrainian wheat prices. The problems with logistics are still apparent, and farmers cannot bring their grain to the ports quickly.
According to the State Customs Service, in 2021/22 MY, Ukraine exported 13.479 million tons of wheat. This is 2.134 million tons ahead of last year rates and is 56% of the volume planned for this season for export.
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