Global wheat prices decline and supply confirms the availability of stocks

The Wheat Stock Exchange ended its weekly trading, with a decline of 0.11%, and the bushel price recorded 1177.50 cents, and a bushel is a standard equivalent to about 27 kilograms. As the international prices of wheat witnessed, during yesterday’s trading, an increase of 5.12%, and the price of a bushel recorded 1170 cents, an increase of about 55 cents on Thursday’s transactions, during which the bushel price recorded 1,115.50 cents. The grain markets in general are witnessing a state of volatility and instability due to the continuation of the Russian-Ukrainian crisis, the increase in inflation, and the Federal Reserve’s decision to raise the interest rate. On the local level, the Ministry of Supply and Internal Trade continues , Local wheat supply operations, where about 1.2 million tons of wheat were received from farmers, and the supply aims to receive from 5 to 6 million local wheat this season, which ends next August. and sub-rooms in the supply directorates at the level ...