Source: APKinform (Ukraine)
On May 5, wheat prices on the CBOT continued their downward trend, influenced by favorable weather in exporting regions and weak importer demand. The market faced significant pressure from heightened competition, strong expectations for the upcoming grain harvest, and adverse currency market conditions.
As a result, futures contracts for soft red winter wheat with July delivery closed 11 cents lower at $5.31 per bushel. Durum wheat from Kansas City dropped 8 cents to $5.32 per bushel, while Minneapolis spring wheat declined by 1 cent, settling at $6.09 per bushel.
The market also felt added strain due to rising grain exports from Russia. According to SovEcon estimates, total shipments of wheat, barley, and corn reached 2.3 million tons in April, up from 1.9 million tons in March.