Ukraine new crop wheat prices rise amid fears of smaller harvest

25 May 2020, 09:53

KIEV, May 25 (Reuters) - Ukrainian export prices for 2020 wheat harvest have climbed, buoyed by fears over the crop's condition in the Black Sea region and Europe, the APK-Inform consultancy said on Monday.

The new crop 12.5% protein wheat bid price rose by as much as $6 per tonne in the past week to $197-201 per tonne FOB Black Sea with delivery in July-August, the consultancy said in a report.

Feed wheat prices rose by $5-6 to $185-188 per tonne, it added.

The consultancy said it expects "a gradual decrease in prices for wheat from the old crop and growth for the grain of the new crop".

Ukraine's wheat harvest grew by 15% in 2019 to 28.3 million tonnes.

This year, analysts have forecast a fall to 24-25 million tonnes due to poor weather.

On Monday, Ukrainian weather forecasters said that recent rains had improved the state of crops and most were in good or satisfactory condition. (Reporting by Pavel Polityuk; editing by Jason Neely)