Global grain markets are out of control, the drop in prices continues

Wheat

Bulgaria

Sunflower Seed

Latvia

Published Mar 12, 2024

Tridge summary

Global grain prices, particularly wheat, are under pressure due to an influx of cheap grain from Ukraine and full warehouses in Russia. Last week saw a decrease in the prices of most grain commodities, with bread wheat in France available for just under €181 per tonne. Amidst this, Poland's Prime Minister, Donald Tusk, is planning to propose an EU embargo on Russian grain imports, following Latvia's lead. Meanwhile, the market value of corn is also falling, with rapeseed on Euronext being the only commodity to see a price increase.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The pressure on wheat prices remained high last week as well. Lots of cheap grain from Ukraine continues to flood the European market, and warehouses in Russia are still full. The prices of almost all grain commodities decreased on the global stock markets last week, according to experts from the Sofia Stock Exchange (SSE). In the most important French trading center and export port of Rouen, bread wheat is available for just under €181 per tonne. The new 2024 harvest is quoted there at just 184.5 euros per ton. Meanwhile, the Prime Minister of Poland - Donald Tusk announced that he will propose a resolution calling on the EU to impose an embargo on the import of Russian grain and other agricultural products, the Polish news agency PAP reported. Earlier, Latvia became the first EU member state to impose an embargo on Russian agricultural products to deal with the destabilization of its domestic market caused by cheap imports from its neighbor. The market value of corn is also ...

Source: Agri