Currently, traders are actively trying to use the crisis in the Red Sea, rising freight rates and other global problems for speculation in the grain market in Ukraine. Their goal is to prove that prices for wheat and corn should be lower than they are now.
Since the beginning of January, Ukraine has already exported more than 1 million tons of wheat. The total volume of contracted grain for January is 1.5 million tons, and 1.3-1.4 million tons of wheat have already been contracted for February. There are also small sales for March. At the same time, wheat reserves are at a fairly high level.
Prices on the importers' market remained virtually unchanged. The only buyer who is trying to purchase grain at a lower price is Turkey. Spain and Italy reduced prices by only $2. However, there has been no significant decline in prices in export markets. Traders are also trying to spread information about a possible market collapse due to problems in the Red Sea and rising freight costs. They are especially actively trying to purchase cheap feed wheat. However, there is no clear factor yet that would cause prices to decline.
It was also noted that in the ports of the Danube the price of wheat is currently 180-185 dollars per ton (with an increase forecast in February), in the ports of Odessa - 184-189 dollars per ton, and on the border with Romania - 220-225 dollars per ton.
A similar situation has developed in the corn market. 3.2 million tons of grain have already been contracted for January, 2.8 million tons for February, and 1 million tons for March.