World wheat prices fall after the extension of the Grain Agreement

After the news about the extension of the Grain Initiative, wheat began to fall in price quickly on world exchanges.

Quotations of wheat on world exchanges continued to fall. At the same time, the situation on the Ukrainian market currently remains unchanged. Barva Invest analysts report this on Telegram.

Thus, as of May 17, wheat fell in price both on the pan-European stock exchange and in Chicago.

The July Chicago wheat contract (ZWN3) fell $0.22 per bushel to $6.25 a bushel. The September wheat contract on Euronext (EBMN3) fell by €9 per ton to €22.5/t. DAP-Port Danube fell by 11.5% to $185 per ton.

Exports to EU countries fell from 6.43 million tons to 6.39 million tons. At the same time, the French Ministry of Agriculture lowered its estimate of wheat exports outside the EU from 10.4 million tons to 10.3 million tons.