Wheat is becoming more expensive in all directions - brokers

11/05/2024 14:05

Wheat prices continue to rise in all directions. The difference between food wheat and feed is normalizing and narrowing to a fair level of $5-10. This was reported by Spike Brokers analysts.

"Producers who sold wheat on a MATIF basis to Europe back in March fixed the final price in recent days at €235-245/t with delivery to northern Italy for August-December," the brokers noted.

The new crop of wheat with protein 11% is traded to Europe at a price of €185-195/t FCA Chop with loading on the European train for the period August-October.

The latest indications of buyers:

DAP Ukraine (Odesa) 11.5pro — $187-190/t;

DAP Ukraine (Odesa) fodder — $175-178/t;

DAP Ukraine (Danube) fodder — $182-184/t;

DAP Italy (Mon.) 11pro 2024 — €220-230/t;

FOB Ukraine (Danube) 11.5pro — $203-205/t;

FOB Ukraine (Danube) fodder — $193-195/t;

CIF Italy (port) 11.5pro — $225-228/t;

 

CIF Egypt (port) 11.5pro — $227-230/t.

Wheat prices continue to rise in all directions. The difference between food wheat and feed is normalizing and narrowing to a fair level of $5-10. This was reported by Spike Brokers analysts.
"Producers who sold wheat on a MATIF basis to Europe back in March fixed the final price in recent days at €235-245/t with delivery to northern Italy for August-December," the brokers noted.
The new crop of wheat with protein 11% is traded to Europe at a price of €185-195/t FCA Chop with loading on the European train for the period August-October.
The latest indications of buyers:
DAP Ukraine (Odesa) 11.5pro — $187-190/t;
DAP Ukraine (Odesa) fodder — $175-178/t;
DAP Ukraine (Danube) fodder — $182-184/t;
DAP Italy (Mon.) 11pro 2024 — €220-230/t;
FOB Ukraine (Danube) 11.5pro — $203-205/t;
FOB Ukraine (Danube) fodder — $193-195/t;
CIF Italy (port) 11.5pro — $225-228/t;
CIF Egypt (port) 11.5pro — $227-230/t.
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