Grain global exchange prices sharply fell down

Published 2022년 7월 4일

Tridge summary

The Food and Agriculture Organization of the United Nations and the United States Department of Agriculture have forecasted an increase in the global wheat production with record harvest data in Russia, leading to a decrease in grain exchange prices. Despite the embargo, Russia's exports to Asian countries and Turkey are at record highs. The heat wave in Europe and the US will not negatively impact the corn crop, and China is reducing its imports. As a result, the prices of the main grain contracts are experiencing a significant downward correction, despite challenges in unblocking Ukrainian ports and opening export corridors.

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Original content

A week ago, the Food and Agriculture Organization of the United Nations (FAO) and the United States Department of Agriculture (USDA) forecast an increase in the volume of world wheat production and record harvest data in Russia. Downward pressure on grain exchange prices immediately followed. Important deadlines in July Despite the embargo, Russia's exports to Asian countries and Turkey are record high. In addition, the heat wave in Europe and the US will not adversely affect the corn crop, and China is reducing its imports. Thus, the sharp downward correction in the prices of the main grain contracts is being strengthened despite the difficulties in unblocking Ukrainian ports and opening export corridors, the Sofia Commodity Exchange AD (SSC) stated in its bulletin for June 28 - July 1. Wheat in the US fell by another 24.00 dollars to 340.00 dollars/ton, and in France – by 7.00 euros to 365.00 euros/ton. In Ukraine, the price was unchanged at $415.00/t, while Russian wheat ...

Source: Agri