European wheat struggles for markets

In brief: • European wheat repositions itself against competitors • FAO raised the index on grain prices Grain prices on European exchanges and markets ended the week on a downward trend, against the backdrop of a strong euro and strong competition. This necessitated the repositioning of European origin, both towards Russian and Ukrainian prices and towards more distant destinations from the Southern Hemisphere, mainly Argentina. Although the global food commodity index fell for the third consecutive month in November, the index of grain prices reached an average of 105.5 points in the month, which is 1.9 points (1.8%) more than October, but still 5.9 points (5.3%) below the level of a year earlier. This was announced in the latest monthly report of the United Nations Food and Agriculture Organization (FAO). From its pages we learn that the favorable export prospects and harvests in Argentina and Australia have not been able to prevent the development of global wheat prices, which ...