Grain futures increased at the end of last week due to speculative activity on global exchanges, while prices on the Ukrainian market remained largely stable, ProAgro Group reports.
On the last trading day of the week, February 6, wheat quotations on the Chicago Board of Trade (CBOT) received support from active short covering by investment funds.
The May wheat futures contract on CBOT rose by $12.1, reaching $226.6 per ton. On EURONEXT, the price of the corresponding wheat futures also increased by $7.2 to $241.7 per ton.
According to Barva Invest, the export market for Ukrainian wheat is becoming more active mainly due to growing demand, while producers remain relatively passive and are mostly monitoring price dynamics. For wheat with 11.5% protein, offers in deep-water ports were $214–219 per ton DAP, compared to $215–219 per ton a week earlier.
Corn futures in the United States also posted gains last Friday, supported mainly by related markets and speculative activity amid geopolitical uncertainty. The May corn futures contract on CBOT increased by $2.8, reaching $181.3 per ton. On EURONEXT, June contracts rose by $4.6 to $238.7 per ton.
Meanwhile, prices on the Ukrainian corn market remain at previous levels, and the market sees few traders willing to pay earlier peak prices. In deep-water ports, corn was offered at $210–213 per ton DAP, compared with $211–213 per ton the previous week.
As previously reported, the full-scale war continues to create systemic challenges for Ukraine’s agricultural sector, including power outages, complicated logistics, labor shortages, and rising production costs.
