Weekly review of the wheat, corn, and sunflower market by the CSB

On the grain markets, abundant harvests in the Northern Hemisphere pushed wheat and corn prices downward, although regional factors created some differences. Global wheat prices showed a downward trend last week, influenced by strong harvest reports from Russia and the increased forecast for global production by the Food and Agriculture Organization (FAO). U.S. wheat prices saw a slight decline. Chicago Board of Trade (CBOT) soft red winter (SRW) wheat futures traded around $189/ton. Favorable warm and dry weather supports the end of the harvest. European wheat prices also fell, with reference prices around $225/ton. The production forecast for the European Union was revised upwards to 136.4 million metric tons. Russian export wheat prices from the Black Sea ports remained relatively stable. Wheat prices with 12.5% protein content were approximately $230/ton. Russia reported a record harvest, with 130 million tons already harvested out of the expected 135 million. Corn markets ...