It is forecasted that after the New Year, wheat prices in Kazakhstan will start to rise. The price increase is associated with rising costs on the domestic market from producers and the increase in logistics expenses for delivering goods to the border by railway.
Currently, the export price for 3rd class wheat is $165 per ton (DAP Saryagash). Traders predict it will increase to $180, otherwise selling it will become unprofitable. The price for 4th class wheat is currently $155 and is expected to rise to $170.
It is expected that the situation in Kazakhstan's domestic grain market will not be complicated by Russia: the ban on wheat exports from Russia has been lifted, however, grain prices there are higher than in Kazakhstan, so a mass flow of grain is not expected for now.
On December 30, the last deal of 2024 took place on the Eurasian Trading System Exchange. A batch of 5th class wheat was sold for 8,934 tons at a price of 60,000 tenge per ton (including VAT) from the elevator (EXW). 4th class wheat was offered at 77,000 tenge per ton under the same conditions, but there were no buyers for this lot.
As for global prices, in trading on Monday, January 6, at the American futures exchange, the price for March wheat futures is $5.359 per bushel ($197 per ton).