The attack on the bulk carrier in the Odesa port led to a sharp rise in grain prices
10.11.2023 - 11:05
After the invaders hit a civilian ship there is a speculative increase in wheat prices on the market.
It will be recalled that on November 8, during the call to the port to load ore, a bulk carrier under the flag of Liberia came under Russian fire. As a result of the attack, a port employee was killed, and 3 crew members were injured.
Against this background, December wheat futures rose in price:
• for soft winter SRW wheat in Chicago increased by 3.8% to $217.6/t;
• HRW hard winter wheat in Kansas City increased by 3.6% to $240.7/t;
• HRS durum wheat in Minneapolis — by 1.6% — to $270.2/t;
• for wheat on the Paris Euronext — by 1.5% — to €235.75/t or $252.5/t.
High quotations supported the results of other tenders. In particular, the Algerian agency OAIS purchased 580,000 tons of wheat at a price of $266/t C&F — with delivery in December/January. At the same time, the Jordanian state agency purchased 60,000 tons of wheat from Ameropa at a price of $276/t — with delivery in the first half of February 2024, Grain Trade reports.
