World wheat prices have risen after Russia said it violated the “Grain Agreement” agreements

According to the results of trading on the exchange on September 7, wheat quotes for the most active December contract rose to $310,2 per Tonne (+ $10 per ton compared to the previous day), which is the maximum indicator for the last 2 months.

The increased dynamics of prices was caused by the statements of the President of the Russian Federation that allegedly Ukrainian agriculture is not delivered to the countries that need it most within the framework of the “Grain Initiative”. In his opinion, this violates the agreements made.

At the same time, Arlan Suderman, chief economist at StoneX commodities market, believes that the Kremlin boss has no interest in Ukraine benefiting from grain sales if sales from his country are slowing amid a heavy harvest. The expert also added that the proceeds help support Ukraine's ability to protect itself, which is contrary to the general goals of the Russian Federation.

Also note that the Wheat–Futures on the European stock exchange Euronext have risen significantly – to €326,25 (+12)/ton.

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