In February, the agreement on the humanitarian grain corridor from Ukraine will be reconsidered. During the re-signing of the deal, the work of sea ports may be suspended, which will negatively affect wheat prices. 

This was discussed on January 24 during the weekly briefing of the analytical department of the "PUSK", created within the framework of the UAC. 

Currently, the russian federation is creating artificial obstacles for the corridor’s functioning. "The Russians have already reduced a number of commissions for vessel inspection in the Bosphorus, which slows down the export of Ukrainian grain. The deadline of the grain deal re-launching is coming up, so the russian federation is creating a "circus show". It is likely that the agreement will be extended, but there will be constant obstacles from the russian federation. It is necessary to prepare that the ports may not work for a week or two. At the moment, we see a maximum wheat prices at the level of $225/t. While waiting for the negotiations on the deal, the indicator will go down. By February 10-15, the price of wheat may drop to $215-220/t," predicts Oleksiy Tartakovskyi, an analyst at the PUSK. 

However, this price reduction is temporary. "The wheat market will gradually vary. This is not a trend, but a market correction. After the re-launching of the grain agreement, prices will stabilize," the analyst believes. 

In the long term, Ukrainian wheat will be in demand on the world market. "China is importing record amounts of wheat now. Let us remind that China often forms significant reserves before the global crisis," added Oleksiy Tartakovsky.