Source: APKinform (Ukraine)
On March 14, trading in corn futures on the CBOT exchange concluded with a 6-cent drop from the previous day’s levels, settling at $4.58 per bushel. Wheat prices also declined, falling by 5 cents to $5.57 per bushel, whereas soybean futures experienced an increase of 5 cents, reaching $10.16 per bushel.
It was noted that last week, the ongoing trade disputes in the global market and reports of high grain inventories in South American nations primarily influenced the cereal quotations.
Moreover, the recent reduction in the Russian agency ICAR’s forecast for grain exports from Russia for the 2024/25 year — adjusting from 42.5 million to 41 million tons — impacted wheat prices. This situation bolstered the demand for American wheat, which currently remains the most affordable on the global market, undercutting prices of grain from the Black Sea region.