The winter wheat harvest has begun in Ukraine. The first to start harvesting were farms in Odesa, Mykolaiv, and Kherson regions. Initial yield figures remain low for now.

This was reported by the analytical department of the First Ukrainian Agricultural Cooperative (FUAC), created within the Ukrainian Agri Council.

"The first results are not impressive yet — the average yield is about 2.1–2.15 t/ha. But this is only the beginning of the campaign, and under favorable weather conditions, we predict an increase in average indicators," the analysts have noted.

Weather conditions remain favorable for continuing the harvest, as no precipitation is predicted for this week or next, so work in the fields will continue without delay.

“However, traders' activity on the grain market is currently focused on barley and rapeseed. Ships carrying wheat are expected to begin arriving at ports around July 15–18, so the market remains relatively calm for now,” the FUAC added.

Wheat prices are currently fluctuating around USD 210/t for third grade on a CPT-port basis. The analysts expect a gradual increase to USD 230–240/t in the fall, with prices peaking in December-February, when they could reach USD 250–260/t.

There are also signs of a decline in supply on the world market.

“The US and russia, as key exporters, are experiencing serious problems with their harvests. This creates the potential for further growth in world prices. If the losses are confirmed, we may see USD230–240 per ton as early as August–September,” the experts believe.