Last Friday, August 19, US wheat prices continued to decline, finding no new supporting factors amid slowing US exports and high competition from other export markets, according to «ProAgro Group».

Specifically, the December wheat futures contract on CBOT in Chicago lost $0.6 and fell to $192/ton. In Paris on EURONEXT, the December grain futures contract fell even further – by $2.6, and traded at $224/ton.

According to Barva Invest, price corrections for Ukrainian wheat have slowed down, but this does not contribute to the recovery of activity. Liquidity remains weak both from exporters and producers. Demand for grain with 11.5% protein in the Black Sea ports at the end of last week was quoted in the range of $209-216+/ton (a week ago – $212-218+/ton).

Corn quotes in Chicago closed last Friday without significant changes despite improved export activity. The December grain futures contract on CBOT rose by $0.1 and traded at $166.9/ton. However, on EURONEXT, the value of the November grain contract decreased by $3.1 – to $220.2/ton. Meanwhile, there is currently no talk of active trading in the Ukrainian corn market: the trade is mostly awaiting the supply of the new harvest. In the ports of “Greater Odesa,” purchase prices for the grain, which is still largely awaiting harvest in the fields, fluctuated within $205-210/ton (last week – $202-207+/ton).