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UKRAINIAN GRAINS MARKET

Within reporting week Ukrainian export grains market was engaged mainly in feed maize trade, though within this year Feb feed maize export has much
declined against this year Jan: thus, as of this year Feb 21, Ukrainian feed maize export was just 700,000 MT

(down against this year Jan 1.8 mn MT).

It is to be admitted, this year Feb feed maize export fall has been caused by unfavorable weather conditions dominating our country Black Sea region within this year early Feb.

As of recent, most companies have already fulfilled their near future contracts, so within this week companies have slightly reduced feed maize purchase rates, — what has consequently resulted in purchase prices decline.

Evidently, maize trade activity will further on remain highest among all other grains on Ukrainian export grains market due to high export demand and agrarians being unwilling to continue hoarding their maize reserves (as long-term storage significantly affects maize quality).

It is to be admitted, within this week some market operators have already declared their purchase prices for new crop maize: thus, this year Oct forward contract (FOB Black Sea ports) fixes maize purchase prices as much as US$240–245 per MT.

On Ukrainian wheat market, quite the opposite situation was observed. As earlier, within this week wheat owners continued to look for arguments for wheat sale prices growth. However, after traders had made concessions to Ukrainian Ministry of Agrarian Policy and Food (by making verbal promise to limit wheat export just to 1.7 mn MT until end season), hopes of agrarians to continue boosting their wheat reserves sale prices have become very faint, — since most traders have simply suspended wheat purchasing. However, it is still too early to speak about Ukrainian wheat export volume definit limit as our country wheat sown areas condition is so far not completly clear.

Within this week Ukrainian feed barley market (if it could be called «market») continued surprising with its passiveness. Domestic market sale/purchase operations number remained very low; export market situation was about same. It is to be admitted, Ukrainian feed barley export demand has still more slackened after Australia has recently started exporting cheaper feed barley to global market.

Barley

Within reporting week feed barley market situation remained unchanged.

This week traders feed barley purchase prices ranged within UAH1,750–1,880 per MT, CPT Black Sea ports and UAH1,570–1,720 per MT, EXW-ex-elevator (depending on regions/lots).

As of this week, Ukrainian feed barley export prices ranged within US$265–275 per MT (FOB Black Sea deep water ports). Some companies fixed US$280–285  per MT (FOB Black Sea deep water ports) feed barley export offer prices; however, importers demand prices remained US$206–265 per MT (FOB Black Sea deep water ports).

Feed barley ports purchase prices

FOB

UAH per MT

US$ per MT

US$ per MT

22.02.2012

1,750–1,880

249–260

265–275

15.02.2012

1,750–1,850

249–260

265–275

08.01.2012

1,750–1,850

249–260

265–275

01.02.2012

1,700–1,800

249–260

265–275

Wheat

Within reporting week Government declared about Ukrainian wheat export possible introduction, — what has slightly cooled Ukrainian wheat market.

As of this week, feed wheat purchase prices remained unchanged against previous week: UAH1,500–1,730 per MT (EXW-ex-elevator) and UAH1,700–1,830 per MT (CPT Black Sea/Azov Sea ports).

This week feed wheat export offer prices ranged within US$235–245 per MT (small-sized Coaster type vessls) and US$245–260 per MT (Handysize/Panamax type vessels).

Within this week domestic market 3 and 2 classes food wheat purchase prices were correspondingly UAH1,600–1,700 per MT (EXW-ex-elevator) and UAH1,700–1,800 per MT (EXW-ex-elevator).

At same time, some companies continued declaring domestic market food wheat purchase prices as much as UAH1,850–1,950 per MT (depending on quality/lots) on CPT Black Sea/Azov Sea ports basis.

It is to be admitted, within this week companies didnt export food wheat. This week 3 class food wheat export offer prices ranged within US$270–280 per MT (demand prices — US$260–270 per MT).

Feed wheat ports purchase prices

FOB

UAH per MT

US$ per MT

US$ per MT

22.02.2012

1,700–1,830

231–245

245–260

15.02.2012

1,700–1,830

231–245

245–260

08.01.2012

1,700–1,830

231–245

245–260

01.02.2012

1,600–1,700

221–235

235–245

Maize

Within reporting week Ukrainian domestic/export markets feed maize prices have slightly declined against previous week.

Within this week EXW-ex-elevator basis purchase prices ranged within UAH1,620–1,800 per MT; prices depended on shipments regions, contract conditions, seller status (middleman or producer) and purchasers demand volumes. It is to be admitted, within this week feed maize average purchase price was gradually going down due to global market decline tendency.

On CPT Black Sea/Azov Sea ports basis, feed maize purchase prices were UAH1,830–1,920 per MT, depending on lots, quality and shipments urgency.

Within reporting week feed maize export price was about US$255 per MT, FOB (food maize — US$265 per MT, FOB); most export sale/purchase operations were made averagely at US$260–263 per MT, FOB.

Feed maize ports purchase prices

FOB/DAF*

UAH per MT

US$ per MT

US$ per MT

22.02.2012

1,850–1,920

235–245

255–265/225–230

15.02.2012

1,850–1,950

245–253

260–270/230–235

08.01.2012

1,850–1,950

245–253

260–270/230–235

01.02.2012

1,730–1,850

240–248

255–265/225–230

07.03.2012


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