Global: What money is expected for wheat, corn, and canola?

Published Jul 7, 2023

Tridge summary

The futures market saw a decrease in wheat quotations for September 2023, while corn and rapeseed also experienced reductions in prices. Russia has set a recommendation for traders not to sell wheat at a price below $240/ton on foreign markets. Turkey has raised cargo freight prices for the Bosporus and Dardanelles, while India has reduced import duties on soybean and sunflower oils.

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

Original content

On the futures market, wheat for delivery in September 2023 saw a decrease in quotations by EUR 3.75/ton - from EUR 234.50/ton at the beginning of the month to EUR 230.75/ton at the end. Harvest 2023: Farmers harvest an expensive but smaller crop The average futures price for the month of September is EUR 238.13/ton, the Ministry of Agriculture stated in its monthly overview of the international grain and oilseed markets. In the European futures market for delivery in August 2023, corn started at €232.50/ton. At the end of the considered period, it reached 230.50 euros/ton, with the reduction of quotations by 2.00 points. The average futures price for August is EUR 236.44/ton. For rapeseed, the average futures prices for August 2023 are EUR 443.50/ton, for November 2023 – EUR 449.56/ton, and for February 2024 – EUR 455.00/ton. Russia's foreign minister has said that if the grain deal is not operational by July 17, 2023, it will not be extended. The Russian ammonia pipeline to ...

Source: Agri