Prices for milling wheat decreased by $5–6/t
The decline in activity of traders and exporters towards ports has significantly weakened support for wheat prices, Spike Brokers reports.
“The collapse in prices for milling wheat began first by $5-6/t, while the price of feed wheat lost less — $1/t,” — brokers note.
The increase in wheat supply on the international market from Russia and the expected harvest from Canada and Australia has significantly increased the confidence of global importers in the availability of sufficient supply. The active struggle for the wheat sales market is just beginning, Spike Brokers believe.
The spot index for milling wheat 11.5% protein with delivery to the port within 30 days decreased by $4 — to $216/t. The feed wheat index also decreased by $1 — to $209/t.
Read also
Milk prices in Ukraine remain almost 20% below global levels
One of Russia’s largest grain terminals damaged in Novorossiysk
Argentina to nearly triple beef imports in two years
Biofuel plants should be ready to process up to 10 types of feedstock – experts
Malaysia’s palm oil stocks hit eight-month high
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon