News
25.07.2012
Grain prices in Ukraine reach their high this year
The price for wheat in Ukraine reached its highest point this year, amounting to USD 238 per ton. The price rose by 13.5% over the month. Wheat was more expensive only on July 1, 2011, when the price was USD 248 per ton, Kommersant-Ukraine reported.
At the same time, the export price rose by 17.4%, to USD 310 per ton.
As for the price for corn, it grew by 8.4%, to USD 201 per ton, and the export price rose by 14%б to USD 278 per ton.
This situation could be explained by a rise in global grain prices. For example, September wheat futures on the Chicago Mercantile Exchange rose last month by more than a third, to USD 9.4 per bushel, or USD 345 per ton. Corn now costs USD 323 per ton.
Despite a rise in prices, farmers and grain traders do not rush to sign contracts, expecting that the grain price will rise even more.
Earlier it was reported that grain prices had reached their historic high in Russia. In late June 2012, the pride of Russian wheat at Black Sea ports reached 9,000 rubles per ton.
World prices for wheat, corn and soybeans rose to a record figure since 2008 due to drought in the United States. Grain and oil-bearing crops rose in price from mid-June by tens of percent. Latin American countries were also affected by the drought.
