Ukrainian wheat prices are projected to increase in December and January, driven by robust export demand, according to the Ukrainian agricultural producers’ union (UAC).
Key Highlights:
Export Volume:
December’s wheat export contracts from Ukraine total 1.1 million metric tons.
As of early December, 136,000 tons of Ukrainian wheat have already been exported.
Price Projections:
UAC forecasts a price increase of $20 to $25 per ton during December-January due to high demand from exporters.
The demand for Ukrainian wheat remains particularly strong in Spain, with recent contracts priced at $237-$238 per ton for delivery in January.
Current Pricing Trends:
Agricultural consultancy APK-Inform reported that milling wheat export prices have risen by $2 per ton in the past week, now ranging from $207 to $218 per ton (CPT Black Sea) as of December 11.
Export Totals:
So far in the 2024/25 July-June season, Ukraine has exported a total of 9.13 million tons of wheat.
The Ukrainian farm ministry has estimated that total wheat exports for the season will not exceed 16.2 million tons.
Future Outlook:
First Deputy Farm Minister Taras Vysotskiy indicated that wheat exports in December and the subsequent months would likely remain below 1 million tons per month, with a potential shift from wheat to corn as exporters adjust their strategies.