Ukrainian and foreign traders have started signing contracts to export the 2005 grain crop, analysts said on Friday. ProAgro agriculture consultancy said in a statement the first deals to export 12,000 tonnes of feed wheat and 5,200 tonnes of feed barley were registered on Ukrainian commodity exchanges so far this new 2005/06 July-June season.
Analysts said that the forward deals dominated the contracts.
ProAgro said feed wheat was bought at between $83 and $90 per tonne (August-September delivery, forward, FOB), while barley was contracted at $90 per tonne (FOB, forward, end-August delivery).
Ukraine's government has forecast the 2005 crop at about 37 million tonnes, including 16-17 million of wheat and seven to eight million of barley. It said Ukraine's exports could total 10 to 12 million tonnes in 2005/06.
Ukraine harvested a record 41.8 million tonnes of grain, including 17.5 million of wheat and 11.1 million of barley, in 2004. The exports have reached more than 10 million tonnes. Analysts put the 2005 crop at about 36 million tonnes, saying the exports were likely to total about 10 million in 2005/06.
Analysts have also said wheat is likely to dominate Ukraine's grain exports this season and could amount to 6.2 million tonnes or about 60 percent of the volume.
They said Ukraine was likely to decrease barley sales to about 3.2 million tonnes this season from a record 4.25 million in 2004/05.