Ukraine is going to make a wheat export record

Export sales of Ukrainian wheat are constantly growing. Since the beginning of February, more than 2 million tons have been contracted, which may become a record volume of supply for the season. As of March, 1,4 million tons of wheat have already been sold.

Ukrainian wheat continues to be the cheapest at the majority of markets.

Last week Ukraine sold wheat with a protein content of 12,5% to Egypt at 224 US dollars per ton with delivery to Egypt. For comparison, russian wheat cost 245 US dollars on an FOB basis. Ukrainian wheat is very cheap compared to grain of other origins at the markets of the EU, Egypt and Türkiye. The trade tries to keep prices lower so that it makes sense to trade on many bases. Price gaps are large, which keeps the CRT market at low levels.

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