The global price of wheat has fallen by 9% in 3 days, speculation on hunger

Published 2022년 5월 21일

Tridge summary

Wheat prices have dropped by 9% in the last three days due to the UN's commitment to ensure shipments from Ukraine, potential compliance of sales contracts by India, and increased harvests in Russia. The price fall is also attributed to speculative activities in the agricultural commodities market. The International Grains Council predicts a slight decrease in global cereal production in 2022-23, while Russia's wheat harvest is expected to rise. This situation could disrupt the global geopolitical balance, especially for countries heavily reliant on wheat imports from Russia and Ukraine. The European Union varies in self-sufficiency for different crops, with the highest being 142% for soft wheat used in bread-making.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The price of wheat has fallen by 9% in the last three days after the UN's commitment to guarantee shipments of the one blocked in Ukraine, the possibility that India will allow compliance with the sales contracts already stipulated despite the ban on the ban. exports and an increase in harvests in Russia by 2.6% to reach 84.7 million tons of which about half are destined for exports (39 million tons). This is what emerges from Coldiretti's analysis at the weekly closing of the Chicago futures stock exchange which represents the world reference point for agricultural commodity trading where wheat fell to $ 11.68 per bushel and down 4% in the three days are also the prices of corn for animal feed. A trend - underlines Coldiretti - which does not actually mean overcoming the difficulties, but rather the increased interest in the agricultural raw materials market of speculation that has taken advantage of the high values achieved to make profits. According to analysts, in fact - ...

Source: Coldiretti