Wheat is growing in price

The analyst of the World of NAN editorial board presents a brief overview of the world markets of agricultural products for April 15 - 26.

Wheat prices in the world have grown significantly over the previous two weeks. Chicago soft wheat price rose by 8.8% to $222 per ton.

Hard Red Winter rose by 9.5% to $237 per ton. The main reason for the increase was the drought in some southern U.S. states. According to the Drought Monitor, drought increases are being seen in Kansas, Oklahoma and Texas. Also similar reports are coming from some parts of Ukraine and Russia, where there is a decrease in soil moisture and drought. Against this background, SovEcon lowered its grain forecast by 1 million tons relative to its March forecast. And according to ProZerno director, wheat harvest may fall to 5 million tons compared to last year.

Prices for exported Russian wheat in Black Sea ports rose slightly after several consecutive weeks of decline. The price index rose by 0.4% and was at $235 per ton. The actual duty on wheat exports from Russia for these two weeks increased by 3.3% and is 3,386 rubles per ton. According to Kazakhstan's commodity exchange ETS, April 25, there was a deal on wheat of the 3rd class without gluten % requirements at a price of ₸74 thousand per ton.

But for the same wheat, but with a minimum gluten of 23%, the bid for sale is still active at a price of ₸110 thousand per ton. For sugar, the last transaction took place on April 23. The price of one ton was ₸360 thousand with terms of delivery FCA in Karaganda. In general, there is a general decline in sugar prices on the local exchange.

In London, sugar for these two weeks also fell in price: by 10.3%. The exchange price in London reached $564 per ton of sugar, which is a 15-month low. In April, sugar production in Brazil jumped by 31%, and according to Conab forecasts, production there will grow by 1.3% next year to a record 46.3 million tons due to a 4.1% increase in acreage.

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