Export prices for Ukrainian milling wheat went up again, though slightly, in view of growing Chicago wheat futures and shrinking supply of Ukrainian wheat on the world market.
Export wheat with 12.5% and 11.5% protein closed the week up by $1 for December-January delivery.
At the same time, a decline was observed in import demand. The reasons included intensifying competition on the global wheat market and increasingly frequent failures of export contracts from Ukraine due to domestic logistics problems. Part of importers have taken a wait-and-see attitude or still prefer wheat of other origins.
Nevertheless, it should be noted that Ukrainian traders have actually exceeded the wheat export target for this time by the end of the first half of the season. Analysts expect that at most 27% of total export capacity of Ukrainian wheat will be left for sale in the latter half of 2016/2017 MY. (UkrAgroConsult/Business World Magazine)