World: After rising at the beginning of the week, wheat prices resumed their decline
Wheat
Egypt
Nepal
Published May 26, 2023
Original content
Wheat prices on global exchanges fell 2.7-3.8% yesterday, giving up early week gains, as demand for old-crop grain remains low and weather favors good harvests in major exporting countries. Yesterday, July futures fell in price: Representatives of the Russian Federation as part of the SCC continue to block the operation of the grain corridor, and during May 19-21 they inspected only 9 ships, although more than 60 ships are waiting in line. Vessels will not be allowed to enter the Southern port starting from May 2. Therefore, there is no reason to talk about increased pressure on the world market by grain supplies from Ukraine. EU countries increased the export of soft wheat compared to the previous season by 13% from 24.86 to 28 million tons, of which 16% were delivered to Morocco, 13.9% to Algeria, 8.5% to Nigeria, 6 % - to Egypt and 5.1% - to Saudi Arabia. Exports of wheat from the Russian Federation for the week decreased by 19% to 889 thousand tons, and in general since the ...
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