Ukraine: World wheat prices jumped after the shelling of the largest port in Nikolaev

Published 2022년 6월 8일

Tridge summary

On June 8, 2022, Russian missile attacks led to a fire in a meal warehouse in Nikolaev's largest port, Nika-Teri, causing a global surge in wheat prices by 4-5% across world exchanges. This increase is attributed to various factors, including the USDA's report on the progress of U.S. wheat planting, which is behind schedule due to cold weather, and the condition of wheat crops in France and Spain, which face challenges such as heat, lack of rain, and deficient precipitation. The article also highlights the effects of weather conditions on wheat production in Ukraine and Australia, with the latter experiencing improved conditions that have boosted wheat export volumes. The overall situation is expected to result in higher food and feed grain prices, impacting consumers and the agricultural market.

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

Original content

Last weekend the Russian missiles destroyed a warehouse with meal in the largest port of Nikolaev - Nika-Teri then the prices for wheat on the world exchanges grew by 4-5%, having returned to level of the previous week. This was reported by graintrade.com.ua. It is noted that on June 6, futures rose: Prices were supported by the NASS USDA report, according to which as of June 5, 82% of spring wheat was sown in the United States, and seedlings were only 55% compared to 97% and 83%, respectively, on average over 5 years. A new season has begun in the United States, and as of June 5, 5% of winter wheat has been threshed, compared to an average of 6%. The number of winter wheat crops in good condition for the week increased by 1% to 30% compared to 50% last year. According to FranceAgriMer, in France the number of wheat crops in good or excellent condition for the week decreased by 2% to 67% due to a deficit of precipitation. ASAJA experts believe that due to the heat and lack of rain ...

Source: Agropolit