The price of wheat is at a four-week high in the US
Wheat
Published Mar 30, 2023
Original content
Crop prices rose overseas and on our continent on Wednesday. In Chicago, wheat rose by 0.9 percent, corn by 0.8 percent, soybeans by 0.6 percent, and canola by 1.2 percent. In Europe, the courses of all four priority agricultural products, mill wheat, corn, rapeseed and fodder wheat, also closed in the red. Chicago wheat futures rose to a more than four-week high on Wednesday after grain trader Cargill said it would halt shipments of Russian grain from the world's biggest wheat exporter's export terminal. Wheat, which was in negative territory in early pre-open trade, rose after Russia's agriculture ministry said Cargill announced it would halt Russian grain exports from July 1. Global grain trader Viterra also plans to stop grain trade in Russia, Bloomberg News reported citing sources familiar with the matter. I think Russia is now making a clear move to take more control of its assets and physical commodities given that the terms of trade will deteriorate over the next six to 12 ...
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