Wheat to become more expensive due to Ukraine
Wheat prices at the close of trading in Paris are growing. This is over fears that adverse weather conditions in Ukraine will lead to a low yield of winter crops and reduce exports of grain.
On February 20 wheat gets up by 0.8 percent - up to EUR 211.5 per tonne. The November contract increased to 1.4 percent, reaching EUR 196.5 per tonne.
Ministry of Agrarian Policy and Food of Ukraine offered traders to export barley and corn, because corn crop in 2011 was record.
U.S. Department of Agriculture last week reduced 2011-2012 wheat exports forecast from Ukraine by 6 million tons. Previous analysis allowed the export of 7 million tons.