Wheat: prices fell to the lows of the month
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Glimpses of peace are restraining speculation on wheat and corn prices, which are changing the trend and falling sharply to the low values of the month of war. This is what follows from the trend analysis conducted by Coldiretti at the Chicago Chamber of Commerce, the global starting point for agricultural raw materials during negotiations in Turkey. The trend is driven by expectations of an agreement between Russia and Ukraine, which control about 28% of global sales of soft wheat for bakery products, 16% of trade in corn intended for animal feed on farms.
At the opening, the most active wheat futures contract fell to $9.76 per bushel (27.2 kg) after exceeding $13.6 per bushel during the month of the war, while corn was quoted at $7.17 after reaching $7.8 per bushel for 10 years.
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