The worldwide wheat prices are down 2,8% in November. Also the prices for feed grain, Corn, Millet fell. The reason given for the decline is the resumption of Rossi's involvement in the "grain business".
This data was provided by the Food and Agriculture Organization of the United Nations (FAO). The average price index for Grains was down 1,3% in November from October but was up 6,3% yoy. World wheat prices fell 2,8% in November. This is mainly due to the renewed participation of Russia in the Black Sea Grains Initiative and the extension of this agreement, as well as the weakening of import demand for supplies from the USA due to uncompetitive prices and increasing competition on world markets as a result of an increase in supplies from the Russian Federation.
Global feed grain prices are also down, down 1% from the previous month.
The situation of the Black Sea Grains Initiative has also impacted corn prices, which recorded a 1,7% drop in November, which also contributed to the recovery of Mississippi shipping in the United States USA contributed.
Following corn prices, global sorghum prices fell 1,2% in November. At this point, the barley prices by 2,5 percent.
The worldwide rice prices are up 2,3% in November as the local currency of some Asian supplier countries strengthens against the US dollar and is impacted by active buying demand.
In November 2022, the average value of the FAO food price index remained almost unchanged compared to October, according to the organization's press service.