Last Friday, February 13, prices for U.S. wheat declined. The previously active short-covering slowed, leaving futures without significant support amid a globally bearish trend, ProAgro Group reports.

In particular, the May wheat futures contract on the Chicago Board of Trade (CBOT) lost USD 3.7, falling to USD 201.5 per tonne. On Euronext, the price of the comparable futures contract also decreased by USD 0.9 to USD 227.3 per tonne.

According to Barva Invest, the Ukrainian wheat market is becoming more active, with the number of buyers increasing. Against the backdrop of restrained supply, this continues to support prices. Currently, wheat with 11.5% protein content is offered at USD 215–217 per tonne DAP at deep-sea ports (compared to USD 214–217 per tonne a week earlier).

Corn quotations on the Chicago exchange showed no significant changes at the end of last week, as support from export figures lasted only one session. On Friday, the May corn futures contract on CBOT added just USD 0.1, settling at USD 174 per tonne. On Euronext, June contracts declined by USD 1.2 to USD 224.9 per tonne.

On the Ukrainian corn market, trading activity remains solid, but producers are not rushing to sell despite price stabilization. At deep-sea ports, corn is currently offered at USD 213–215 per tonne DAP (versus USD 214–215 per tonne last week).

As reported earlier, the global corn market currently has only two active sellers — Ukraine and the United States. The U.S. is mainly operating in the forward segment with deliveries scheduled for April–May, while Ukraine remains the key supplier of spot corn with February–March shipments. This situation is driving heightened short-term interest from importers in Ukrainian grain.