Tridge summary
The price of durum wheat has dropped after a sharp decrease in production is projected for North America. This comes as a blow to cereal farmers who are already struggling with unsustainable conditions for wheat cultivation. Additionally, the war between Russia and Ukraine has disrupted the grain deal, causing uncertainty for Ukrainian farmers and adding to the global instability in the wheat market.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
It is becoming increasingly unsustainable to grow wheat. Cereal farmers are in great excitement after the news that the day after the reopening of the Foggia commodity exchange there was a sharp drop in the price of durum wheat by sixty euros less per ton. Mimmo Pelegalli on AgriNotizie points out that: “Confirmations are arriving from North America: for 2023-2024, only slightly more than 5.7 million tons of durum wheat will be produced. After the terrible one in 2021, it will be the second worst harvest of the last six years for Canada and the USA combined. After the considerable increase in prices, with the Canadian FOB also driven by the increase in transport costs up to 663.44 Canadian dollars per ton, the climate now seems to be one of adjustment and waiting for more precise production values. In fact, the prices at origin offered by Canadian farmers and the wholesale price paid by exporters decreased slightly. In the USA, on the other hand, the Durum Futures Index in Chicago ...
Source: Siciliaagricoltura
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