Constant increasing of the global production and stocks of grains is one of the major factors forming the situation on the raw materials market of grains in Ukraine in 2016/2017 MY, the grain market analyst at APK-Inform Agency Andrei Kupchenko declared.
According to USDA estimations, in the current season the global grain production will reach 2.06 billion tons, up by 4% YoY, which breaks the record level. At the same time, the level of carryover stocks will increase by 3%, which has its dominating impact on both global prices and Ukrainian market prices, the expert added.
Also, Kupchenko stressed that the bearish trend on the domestic market of the major grain – wheat – was short-lived, and it already gave way to the bullish trend influenced by various internal factors. (APK-Inform/Business World Magazine)