News

Global wheat prices are under considerable pressure

Wheat
Published Jul 2, 2022

Tridge summary

The Matif in Paris is trading this week for wheat on delivery in September about 346 euros per tonne. That is 15 percent less than a month ago, when the quotation was still well above 400 euros per tonne, and the lowest level since the beginning of March this year. Prices are also falling for the longer term. For the delivery of wheat from the 2023 harvest, indicative prices are now being issued that are lower than 300 euros per tonne.

Original content

According to RVO in the weekly grain report, one reason for the pressure on wheat prices is the growing concern about global economic developments. As a result, the demand for wheat appears to be disappointing compared to previous forecasts. Furthermore, the usual pressure of the supply of the first wheat of the 2022 harvest is currently at play. Better development of spring wheat The harvest of the first winter wheat in the northern hemisphere is progressing well, RVO writes. There are also reports of improved growing conditions in Canada, among others, after the dry start of the growing season. In many growing regions, both in North America and in Europe, spring wheat also appears to be developing better than previously expected. Finally, Russia assumes top yields for cereal crops. The winter grains generally came out ...
Source: Nieuwe Oogst
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