Global wheat prices between port openings and bombardments
Wheat
Published Jun 8, 2022
Tridge summary
With the Russian announcement to open the Ukrainian Black Sea ports for grain export, which was confirmed by the Russian Ministry of Defense in early June, global grain prices collapsed. After a turbulent week, the price is now rising again.
Original content
On Friday, June 3, wheat fell below EUR 380 per tonne for the first time since the end of April. That is a slump of 35 euros compared to the previous week and at least 60 euros less than the highs in May. Other cereals such as barley and corn as well as oilseeds were also affected by falling prices. Rape lost almost 4 percent on the Paris Euronext compared to the previous week. Fodder maize fell on the European futures market to EUR 329 per tonne, EUR 45 less than in mid-May. In Vienna, 323 euros were listed for the time being. The reason was the hypothetical possibility that grain would leave the Black Sea ports via defined corridors and thus the global shortage on the market would be alleviated, as reported by the agricultural press service AIZ and Agrarheute. diffuse location Russian Defense Minister Sergei Shoigu has now called the demining in the port of Mariupol complete. The port is working and the first freighters have docked, Shoigu is quoted as saying by the Reuters news ...
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