A steady demand for Black Sea and French-origin wheat is taking shape on the global grain market, driven by continued buying interest from Egypt. According to traders, Egyptian importers are supported by a combination of competitive pricing and reliable logistics to Mediterranean ports, ProAgro Group reports.

Last week, market participants reported the sale of at least two cargoes of Ukrainian wheat with 11.5% protein content to Egypt at prices of around USD 245–250 per tonne C&F for prompt shipment. At the beginning of the week, indicative bid levels for Ukrainian wheat of this class remained in the range of USD 246–247 per tonne C&F.

At the same time, traders reported recent sales of several cargoes of French wheat to Egypt for February–March shipment, including loadings from the port of Dunkirk. Market sources note that prices for French and Black Sea wheat are currently very close on a C&F basis for the Egyptian destination. However, Black Sea wheat still holds a slight competitive edge, which could quickly diminish due to currency fluctuations and movements on Euronext.

Additional support for demand for Ukrainian wheat has come from winter-related disruptions in Russian logistics, prompting a temporary reallocation of purchases toward alternative suppliers. Against this backdrop, EU soft wheat exports since the start of the 2025/26 marketing year up to February 1 reached 12.82 million tonnes, according to official EU data, remaining broadly in line with last season. Analysts note, however, that actual export volumes may be higher due to gaps in official statistics.

As previously reported, as of January 30 Ukraine had exported 18.71 million tonnes of grains and pulses since the start of the 2025/26 marketing year (July–June), including 8.45 million tonnes of wheat. Wheat exports are currently almost 2.3 million tonnes, or 21.4%, lower than during the same period of the previous season.

Source: UkrAgroConsult