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Grain prices down due to 2004 crop’s favorable forecasts
08.06.2004 13:43 "Agro Perspectiva" (Kyiv) —
Main kinds of domestic market grains are falling down in price, due to this year crop’s being expected 32-35 million tons (much up against last year) as well as owing to agricultural companies having accumulated big enough grain reserves as of early June. As to Agrarica Ltd’s analysts, domestic market’s before harvest grain supply exceeds demand, with 3 class wheat prices falling most actively. Within May 27-June 2, 3 class wheat prices are down UAH50/t, to UAH950/t (EXW) or UAH980/t (CPT- plant), while within May domestic market’s 3 class wheat prices have lowered to UAH1080/t (EXW), down UAH70/t (-6%) as of Apr. Feed grain prices, however, are declining slower due to feed grain’s demand having raised: thus, Byelorussian companies have started purchasing barley and maize. As to analysts, food wheat prices are most probable to continue falling, reaching UAH650-700/t within Aug-Sept. As reported, this year grain crop’s forecasts are 32-35 million tons, up against last year’s 20.2 million tons.
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