Wheat prices fell for the fourth consecutive quarter for the first time since 2008. This was reported by Bloomberg Based on data from the Chicago Board of Trade (CBOE).
Despite tensions over grain exports from the Black Sea region, global supply remains high thanks to good harvests in the Northern Hemisphere.
“Despite events in Ukraine, the world has found ways to get grain to those in need,” said ANZ analyst Michael Whitehead.
After Russia withdrew from the agreement on safe grain exports, Ukraine resumed using other routes via the Danube River and shipments via the Black Sea. The publication notes that it is not yet clear whether it will be possible to restore the corridor. Russia also achieved a record grain harvest this year. Experts predict that wheat prices will remain low.
At the end of the work week it became clear that argument Grain supply from the Russian Federation to African countries continues with the participation of Türkiye and Qatar.
Previously in Turkey discussed Steps to activate the grain agreement.