Australia, Ukraine wheat prices down on global glut.

Prices of Australian and Ukrainian wheat have fallen further as sentiment in global markets remained bearish due to high supplies. The current freight-on-board cost of Australian wheat has fallen by $15-$20 in the last 10 days and the commodity is currently available at $250 a tn. The grain from Ukraine is being quoted at $202 per tn, lower than $208-$210 a week ago. Sentiment for wheat is expected to remain bearish in the coming days due to high stocks and record production in the Black Sea region.