Grain prices in the EU reflect the crisis in the global grain market — analysts

Grain prices remain under pressure, which, according to industry specialists, is due to several reasons, reports the German news portal Agrarheute on November 24. The first reason cited by analysts is the exceptionally high global wheat and corn harvest, which exerts downward pressure on the value of grain. The second reason: exchange rates and geopolitics are influencing the ability to sell grain more than ever before over a long period. Wheat prices remain under pressure due to the intensification of the harvest in Australia and Argentina. Last week, the Grain Association of Western Australia increased its forecast for wheat production by 0.42 million tons to 13.05 million tons. Last year, production amounted to 12.45 million tons. Western Australia accounts for about a third of the country's total wheat production. According to the Buenos Aires Grain Exchange (BAGE), as of November 19, wheat harvesting in Argentina was 20% complete ...