World: Stock prices for wheat fell by 1.6-3%, losing growth in the last month

On Friday, wheat prices on world exchanges fell by 1.6-3%, losing for the week to 4.5% of the price, under pressure from the new balance sheet of the IGC, the extension of the ban on imports of wheat by Turkey and the permission of the Russian Federation to transit grain from Kazakhstan. IGC experts in the October report left the forecast of world wheat production in 2024/25 MG at 798 million tons, as the improvement of crop estimates for Kazakhstan by 1 to 17 million tons offset by lower forecasts for Australia by 0.5 to 31.3 million tons and Argentina – by 0.3 to 18.1 million tons. Last week, Russia temporarily banned grain imports from Kazakhstan, but allowed its transit through its territory for export to other countries. The Russian Ministry of Agriculture and the Union of Grain Exporters decided to exclude foreign intermediaries from the supply chain of Russian grain to 13 countries. Now, grain will be directly supplied to state agencies and sovereign buyers in Egypt, ...