Wheat Prices Are Soaring: Why Farmers Should Pause Before Selling the New Harvest?

The wheat market is currently in an off-season period: the old crop is nearly exhausted, and while demand persists, it is not particularly active. This is the assessment provided by analysts from the PUSK cooperative, established within the framework of the Ukrainian Agrarian Council (UAC).

“We are essentially in the off-season. The market is gradually weakening. Last week, a brief decline in prices was recorded, but by the end of the week, the situation stabilized and prices started to rise again,” the experts reported.

According to them, given the reduced supply on the global market and significant weather risks in key producing countries such as Russia and the USA, Ukraine’s new harvest has strong potential to remain competitive.

“Weather factors are serious, so wheat prices for the new harvest are likely to be high. In autumn, prices could reach $230–240 per ton for 3rd class wheat, and in the second half of the season — up to $260/ton,” analysts forecast.

Despite this, sales on the European market remain challenging. Therefore, experts advise farmers not to rush into forward contracts — with low supply, there is potential for weekly price increases of $2–3.