The world market price of grain is on the rise

The price increase is largely due to the drought in the main producing countries, the crises in the Middle East and increased demand. Towards the end of the week, however, profit realization and the strengthening of the US dollar caused prices to fall slightly. The US Department of Agriculture (USDA) also published its estimate of grain stocks for the third quarter. Wheat stocks were estimated at 54.0 million tonnes, slightly above the 53.7 million tonnes expected by analysts. Corn stocks were put at 44.7 million tonnes, 4.6% below analysts' estimates. In Argentina, the persistent drought had a negative impact on wheat production. Due to the unfavorable conditions, pests have multiplied on uncultivated wheat fields, which may further worsen the amount of the expected total yield. At the same time, they are making good progress with the sowing of corn, and 14% of the 6.3 million hectares expected for this season have already been sown. In Australia, a dry spring and extensive frost ...