Australian Wheat Prices and Market Update During W8

During W8, the overseas grain market was lower overnight, March 23, wheat futures dropped USD 14/bu (bushel= 60 lbs of wheat). The rise of the US dollar placed pressure on grain prices.
Ukraine has asked the United Nations and Turkey to extend the Black Sea grain corridor for one year. Egypt bought Russian wheat in their latest tender, reinforcing the market that Russia has the most accessible wheat prices as of W8. The Australian wheat market has remained unchanged, and trades were slow. The weaker Australian dollar is forecasted to help buff and maintain the market steady.
The Australian wheat prices for W8 were the following:
Wheat Grade: H2, APW1, AGP1
W8 Price: USD 302.74/mt, USD 293.36/mt, USD 274.77/mt
W7 Price: USD300/mt, USD 294.72/mt, USD 276.3/mt
WoW Change: +USD 2.74/mt, -USD 1.36/mt, -USD 1.53/mt.