Global wheat and canola: now American prices are pulling the trend down

Cereal prices are at a four-month low: they fell again on Monday, and the price of wheat fell below 215 euros after Friday's significant drop. The price of rapeseed is also and continues to plummet. The indicated price of wheat is the lowest level since April. The trigger is the USDA report, which increased global production by 6 million tons. The European wheat market is also affected by harvest pressure from the Black Sea and low export prices from Russia and Ukraine. On the other hand, the price of corn - as our paper recently wrote - is holding up a little better due to the fear of a decrease in production in the Balkans and the Black Sea. However, canola sales are again falling sharply as Canadian canola benefits from good growing conditions in growing areas. According to agritel, from a meteorological point of view, the European continent is still divided into two parts by a southwest-northeast band, in the western half of which the weather is still humid and unstable, which ...