The quotation of European wheat reached the price of 300, -EUR / to, almost 3. True not last week, but on the first Tuesday in November. We have not seen such a price in the last 20 years and it has exceeded all expectations so far.
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A peculiarity in the development of wheat prices is also that if we look at the global numbers, there is no really big problem - world production is more than last year, stocks are not falling and yet, the price of wheat is soaring. The reason is that consumption is growing better than production and although globally sufficient stocks are available due to some local factors, the situation is fragile. The critical situation continued to come from the US due to the decline in the supply of spring wheat, which was compounded by the outage in Canada. In the U.S., the December futures supply for spring wheat was quoted at around $ 6.5 / bu in March this year and has now reached $ 10.5 / bu, an increase of 61%. Other wheat varieties have become more expensive all the time and now the Russian export tax does not seem to be a deterrent either. Last week, Egypt bought most Russian wheat for delivery in December, which made the price changes of previous days temporary. Similarly, Saudi ...
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