In trading on Euronext on October 24, the price of wheat futures fell amid low market activity and high supply Grains to 234,5 (-3,25) euros per ton.
In particular, it should be noted that the second largest grain harvest is expected in Russia - 140 million tons, which is offset by an export potential of 60 million tons. According to the Ukrainian Ministry of Agriculture, the country has been able to export 700.000 tons of grain since the new “grain corridor” was launched in August this year.
The price decline was also seen against the backdrop of forecast rainfall in wheat-growing regions in Europe and the USA recorded, which will have a positive impact on the harvest prospects for the current season.
On the SWOT exchange, wheat prices also fell to $213,3 (-2,5) per tonne, while the decline in the dollar against other currencies did not provide much support to prices.
Source: APKinform (Ukraine)