World prices for agricultural products began to decline after Ukraine’s talks with Russia

UkrAgroConsult

After the talks between Ukraine and Russia in Istanbul, world prices for oil, natural gas, gold, silver, platinum and other commodities began to decline, in response to the meeting of the two delegations.

On average, according to Investing.com, prices for the above commodities fell by 2-3%, and palladium – by almost 7%, as of 18 00 Kyiv time.

It should also be noted that prices for agricultural products began to decline. Wheat fell further on the Chicago Stock Exchange (CBOT) on March 29, as the start of personal talks between Ukraine and Russia raised hopes for progress towards a ceasefire in a conflict that disrupted mass grain exports across the Black Sea region.

Corn also weakened, but soybeans rose due to the support of active US exports and the stability of crude oil prices after the decline on March 28.

Corn on the CBOT fell 0.8% to $ 7.42-3/4 per bushel, but remained higher than on March 28. Soybeans rose 0.2% to $ 16.67-3/4 after falling to their lowest level in more than a week.

Ahead of the US Department of Agriculture’s forecasts on March 31, analysts expect that farmers in the United States in 2022 will sow less corn and more soybeans.
As for world indices (US 500, Dow Jones, DAX, FTSE-100, Nasdaq-100), they began to grow by an average of 0.3-0.7%. The DAX index rose by almost 2.5% as of 18:00 Kyiv time.

Whether the decline in world prices for leading goods and the growth of indices will continue will depend on the further course of the negotiation process between Ukraine and Russia.

UkrAgroConsult

Tags: Dow Jones, Russia, DAX, corn, FTSE-100, soybeans, Nasdaq-100, Oil, US 500, wheat, agricultural products, natural gas, Gold, silver, platinum, Ukraine